Long Term Trendlines
Yesterday I posted some long term trendlines.
Here’s the chart I posted for the E-mini SP500. Then below, you can see how important it becomes when it fails intraday, and acts as a target late in the day.
Category: Trading PatternsFebruary 5, 2010 Long Term TrendlinesYesterday I posted some long term trendlines. Here’s the chart I posted for the E-mini SP500. Then below, you can see how important it becomes when it fails intraday, and acts as a target late in the day. January 25, 2010 Will SPX Long-Term Trendline Support Fail?I thought the market might hold the SPX 50 dma, but that quickly failed. Friday’s trade began with a breach below the SPX 50dma. Failure to move back above the previous day’s support set up a lower pivot that should be … |
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