Slope of Hope Blog Posts

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Double Bottoms and Fed (by Springheel Jack)

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SPX respected resistance at 1375 yesterday, and the bear case was looking ok until the AAPL earnings after hours, which has triggered a potentially very bullish setup. On the SPX 15min it looks as though SPX may gap over declining resistance in the 1380 area at the open, and may then retest the strong resistance area in the 1390-6 area that  highlighted after the first decline. If it should break over that, a double-bottom target at 1427 would be triggered:

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