Replies to post #78246 on ajtj99's Market Pulse

[LG]

ajtj: What are you suggesting, definitive trend line anchor point guidelines?...gg

LG

[plexxus]

>>>Plexxus, that "channel lower line lies at 1278 SPX if you connect the 1245 and 1253 lows. It's a parallel line to the upper line on that SPX chart.>>>

AJ I disagree with your take...the SPX wedge had 5 reversals between those trendlines shown below making them significant. Also note that as I mentioned yesterday the high was the backtest of that key trendline and we fell sharply today. There was no indication of 1278 being anything significant today as it was cut through rapidly. All JMO.

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p63873966240&a=5...