This market is hitting now very close against the upper channel line drawn down from 17650. The weekly high cycle which apparently has been done last week at 16980 is in peril of not being it if 16980 is taken out either this week or next. The time span for this cycle is within the week ending Friday July 16th and Friday July 30th. If it goes beyond July 30th we will have RIGHT TRANSLATION of the cycle which happens when markets are very bullish as it is the case of KC.
If it closes above weekly pivot of 16528, we will have another close above the pivot, since the market opened above it at 16665 last Monday.

Nagual1