SPX traded through the line off of the January 2018 and February 2020 highs today. Let’s see where we finish the week though. Extending the line back in time reveals a lot of important pivots around or right at the line…I call this an ‘angle influence’. The monthly chart shows that the line tags the 1932 and 1942 lows as well! I'm on alert for a change in behavior up here.
Director of Technical Research at Krilogy, author Sentiment in the Forex Market
Twitter: twitter.com/jamiesaettele
Website: www.krilogy.com/
Twitter: twitter.com/jamiesaettele
Website: www.krilogy.com/