Channels Broken?

At least in after hours the are. The averages have put together classic bear flags today, this is one reason I said earlier I'd expect a top side break of the chanel and  then a bottom side break down.

 The DIA channel is a bit more difficult to draw because of the 2:20 dip, but I think this channel connects the most dots. You can see the two light blue hash marks next to price below $124.10, that's the after hours bid ask, so they are trading below the channel in after hours. In my opinion, there's still a decent chance of a gap opening or something like that early tomorrow that breaks the channel to the upside. As you will see, the bear flag is very well defined and the channel is tight, it would seem to me that the opportunity to break it to the upside before a downside break (during regular hours) would be irresistible.

 The Q's channel was broken at 3 pm


 Here's an example of a well developed bear flag in the Q's

 The daily chart of the Q's which has traded laterally for the last 6 days, actually down about .25%

And the SPY channel close to support or a possible break. Again, in after hours trade, it's already trading below the channel.