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SPX Trendlines

When I am putting together trendlines, usually it is at least 3 points of interest to create a trendline. I also try to look at the chart from at least an hour timeframe and then work my way in.

Yellow lines are 5 min chart trendlines

Green lines are 15-30 min trendlines

Purple are an hour trendlines

The one that stands out the most is this bold purple one in the middle. You can see here that there have been multiple points of support and resistance on this line July 8th.

On the lower timeframe, SPX has done some consolidating over the last few days and I think we could see a big move coming here shortly, especially FOMC.

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