Trendlines and Such

Updated Dow Jones chart. I've done a lot trying to determine which trendline we should be watching. Each index has a different trendline and in different scales. Most are starting to break, in fact the SPX and Nasdaq Logarithmic trendlines were broken on the last dip.I believe the blue trendline on the DOW is the most important however because of the fact that it has had 4 touches now.

The transports continue to show weakness. We certainly don't typically go up very much the next day with a chart looking like that. I'm looking for a possible test of the double top support at 3655 tomorrow and a bouncer higher. Otherwise any more weakness will hint at 3400 within a month or two.

EUR/USD:

Long term EUR/USD shows a possible retest of a broken trendline. If this is truly what it is, expect new lows/possible retest of 2002 in the EUR/USD in the upcoming months.

I switched to the EUR/USD from /DX because I didn't like the data feed for TOS for the futures contract. I believe this should be closer to the true trendline you should be watching. It should correlate well with the Dow Trendline above.