Slope of Hope Blog Posts

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Bearish Reflections (by Springheel Jack)

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This first thing to mention today is that despite the title of this post I'm cautiously bullish for today and am still very much expecting the double-bottom target on SPX in the 1425-30 area to be made. That said, I'm seriously considering the possibility that we may see a second high of a double-top made there, or slightly higher close to the 1442 SPX pivot, before starting a decline into the usual summer low. The reason for the title is that I'm going to show some charts today that suggest that there may not be a usual summer low this year. Just a possibility of course, but worth bearing in mind as part of the bigger picture here.