Slope of Hope Blog Posts

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Holiday Week (by Springheel Jack)

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I did a weekend writeup at MarketShadows and if you want to see that it’s in the weekly MarketShadows newsletter published yesterday. You can download that as a PDF here. I’m using the two charts from that post this morning but there’s some additional commentary about the increased likelihood of QE in Europe that I won’t be recapping this morning. 

The first chart for today is the daily BBs and MAs chart on SPX, where we saw SPX close slightly over the 100 DMA and testing the current rally high and the upper daily bollinger band. Obviously there is significant resistance in this area:

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