The S&P 500 is at an interesting inflection point, technically. Although both the key uptrend and downtrend lines seen below are steep, and are ‘new,’ they represent the uptrend made off the recent lows and the downtrend from the all-time-highs. 2900 (give or take 10-20 handles in either direction) is now a very important line in the sand as the S&P is currently trading where these trendlines intersect. Good luck out there. Watch 2900.
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|Chart of The Day – May 11, 2020|