Play for Monday, June 29th

We slightly broke above the descending channel on Friday, but quickly drove back inside. There is still a potential cup and handle formation to consider if we don't break towards the bottom of this channel and touch the 4200 line again soon.

I'll be looking for weakness below the 4270s to add. Intraday as well as daily momentum are looking south. However, I'll be watching the ES closely as well as there is an area where we could find strength nearby and take the European indices up as well.