This is 30 minutes ALSI (Jun09ALSI) chart showing channel that was developed from middle of April. Bottom of the channel was tested four times, while top, as well, was touched four times, with one false break-out.
Currently, ALSI (Jun09ALSI) is trading very close to the bottom of the channel again. There are two options here:
Market will bounce and will try to retest top line
bottom line will be broken and market will sink a bit more.
I prefer second option and if it happens there is a possibility for ALSI (Jun09ALSI) to retrace all the way down to 19300.