Slope of Hope Blog Posts

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Reversal Targets (by Springheel Jack)

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As I was saying in my post yesterday at MarketShadows, SPX hit, or near enough to qualify, the weekly lower bollinger band at the low on Friday, and that fulfills that target which was triggered by the break of the weekly middle BB at the close last Friday. This level is decent support and it's possible that a significant swing low has been made, though the H&S target on SPX in the 1325 area has not yet been reached and there is no positive RSI divergence at this low on the SPX daily chart: 

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