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SPX on last ditch support

Indeks S&P 500 (OANDA:SPX500USD)  
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Parallel Channel SPX (S&P 500 Index) SPDR S&P 500 ETF (SPY) ES
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parallelchannel spx spy es
Not looking good here, I want to have this in my history as I cannot believe we are going to break down from it.

Still feels like too obvious and a bear trap, we shall see.
Komen:
Still think this is a bear trap - they are selling right outside lower 12 hour bollinger band - bears are over extending themselves here and exposing their flank.
snapshot
Komen:
Weekly defended. Huge bull flag on hourly coming up for a breakout.
snapshot
Komen:
snapshot
Strong resistance here, but with this 4hr bull flag we can pop over this resistnace line (red) from Oct 29 - if we do that, get ready for a huge relief rally
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