SPX Long Term 'Angle of Influence'

SPX traded through the line off of the January 2018 and February 2020 highs today. Let’s see where we finish the week though. Extending the line back in time reveals a lot of important pivots around or right at the line…I call this an ‘angle influence’. The monthly chart shows that the line tags the 1932 and 1942 lows as well! I'm on alert for a change in behavior up here.