After the Senate passed the Trump Tax Plan, which still needs reconciliation with the House version, futures gapped up on Sunday afternoon and we are seeing the pink channel playing a role in the price action yet again. I took this snip almost 30 minutes into the trading day on Monday, 12/4. A breakout above $267 SPY would be a bullish development. Falling back into the pink channel could mean another trip to the bottom trendline near $262.50 or at a minimum, a gap fill near $264.50. Enjoy the update.