Additionally, some of you might remember(it was only a few weeks ago ;-)) that it was indeed a bit of a challenging time. Also, we know now that the earlier channel broke down with 3 hard selling days to where it's forming again now..but at lower levels.
Channels are important to study and look for. They indicate a pause usually after a market correction where both bullish and bearish forces duke it out.
They're also like shipping containers from those transatlantic cargo ships stacked one atop the other acting like a floor or in this case, a ceiling!