Date: February 2014: content.screencast.com/use.../SPX22414.jpg

content.screencast.com/use.../SPX22414.jpg

$SPX failed breakout.

Comments

DinkDink
That rising trendline starting from the Feb low is not valid in my opinion, because the angle is too steep and there are only two points, with the 2nd point not showing that it is acting as support yet. A better rising trendline would be to start from the 2/13/14 low connected to the 2/20/14 low. Create a parallel line above today's high and you have a modestly rising bullish channel. 2/24/14
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