The crossover has interfered (significantly) with technical analysis, since per my rough calculations and observation:
'/ES June' = '/ES September' + 4.5
From another perspective, and incorporating the above equation perfectly, whereas the prior relationship between /ES (June) and SPY had been: '/ES'*(1/10) + .5 = SPY, the new relationship -- i.e. of /ES (September) and SPY -- seems to be:
'/ES September'*(1/10) + .95 = SPY
Thus, while I would be pleased to post some interesting charts of /ES futures, I fear that my price channels and other support/resistance levels have been temporarily rendered suspect. I'll provide, instead, a chart of a highly tantalizing short set-up in HSY (Hershey); I only wish I'd discovered this robust price channel as HSY was powering through $42 earlier today.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjY9h7vVNN0kgKeCZirX1a4J86lo4Pqun0LQsREtmDNI4nPVzn5tuTCNjbX9nJ3zorijRiFy7lf6bVMsU5eqJ3AZRcwblDjLIzh2P_TD34USx-xp6m50YMHaD9YsmEdsHuZeV46M343-Sc/s320/hsy.bmp)
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