SPX Holds 60m Trendline

This mornings erratic action still has some bullish bias as the sell off reversed for a higher low at the 60m upward trendline. You can draw this line by bring up a 60 day chart in Prophet Charts and drawing a trendline up from the bottom of the “body” of March 14th to the bottom of the body on May 11th. As you can see in this mornings chart, we held both times and bounced hard to the upside at that support level. This will be an important area to watch if it breaks below that trend line. Intermediate bias is still sideways until we break above and hold above yesterdays high. Chart below shows 15m bars bouncing off support.