S&P 500 futures in a channel

CHART - III

CHART - II

• S&P 500 futures hour chart has violated the support line.
• But it is not falling as expected. 1085 - 1088 region is crucial for bulls and bears.
• If 1085 breaks we can see good correction

CHART - I

• S&P 500 futures hour chart is trading in a down trending channel.
• It is close to a breakout point. The index can give good direction soon. 
• Break of the support line will favour bears.
• Hourly stochastic is showing some positive divergence. But it seems there will be another down move before the positive divergence in hour chart shows its effect.
• Wait for a clear direction before taking a trade.