SPDR S&P 500 (SPY)

[Schneidku40]

I see what you're saying. If the lower trendline was drawn through the LODs rather than closes, yesterday's low on SPX was exactly on that trendline. I do use LOD/HOD lines sometimes. Sometimes they work better than closing lines, sometimes closing lines work better. Maybe just have to look at both and see which one is more believable. I do also try to cross reference any lines with horizontal support/resistance lines.

Here's the bond chart that led me to take profits in my bond ETF this morning. It's a little hard to see but the first support circle has the horizontal line right at the open price that day. Then the next two support tests it's near the LOD. Then yesterday the HOD hit that line as resistance. It's very rare for things to be down to the penny exact. but if it's pretty close at any time during a day, I consider it close enough.