On a 15 minute chart, I see a long upward trending channel. Notice that SXP is sitting right above the top of the upper line. If it breaks through, I see support 3.35 - 3.30. If it busts through those, I'm looking for a bounce off the bottom of the channel at approximately 3.00. Alternatively, perhaps a bounce off the top of the channel and likely taking out the previous high of 3.78 on the way to test 3.98.
Keep in mind that it's come a long way in a short period. It's due for a well deserved rest. Good luck everyone!!!
Keep in mind that it's come a long way in a short period. It's due for a well deserved rest. Good luck everyone!!!