Mini S&P Continuous Futures: Trendlines Tagged

On the first chart posted below, the long-term upper parallel channel line was hit yesterday/today. The same channel line drawn on the cash index has been exceeded a bit, but I prefer the continuous futures contract for accuracy of trendlines. The second chart shows the upper trendline of the rising wedge was also hit with precision. So far these trendlines have acted as resistance just as the important 1/30/13 timing was hit. I don't know if today's high in the market will hold, but I think there's a pretty good chance it might.

Kim Rice 1/30/13