Following yesterday’s sharp decline, the index and the Parabolic SAR indicator were both within 100 points of each other, at 3820 and 3915, respectively. Prior to the start of this week, I predicted that the index would oscillate between 3900 and 4000, giving the Parabolic SAR time to catch up….
Tag: Trendline
S&P 500 Daily – A Closer Look at the Trendlines
The uptrend trendline from 10/30/2020 appears to be broken. The trendline from 3/23/2020 is still intact. The index closed just right on the dot. On the Weekly chart, it closed below the trendline. Currently, we have the Dow, which just made the all time high today. NASDAQ is the weakest. …
EURUSD Weekly Chart – Broken Trendline
The EURUSD moved lower this week decidedly. On the weekly chart, the uptrend trendline since 3/23/2020 is broken. The Parabolic SAR signaled the trend change a few ago. Now, it is confirmed by the broken trendline. We’ll probably see the euro move lower against the dollar in the coming weeks….
S&P 500 Weekly Chart: What Happens When a Trendline Is Broken?
Apparently, I am obsessed with S&P 500 tonight. I just drew some trendlines on the weekly chart. I think I found something interesting. Is the trendline really broken this time? It appears to be for now. However, if the S&P can close above 3820 tomorrow, the trendline is not really…