Slope of Hope Blog Posts

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Weekly Upper Bollinger Band Punches #2

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I was saying last week that punches well above the weekly upper bollinger band were both rare and very bearish, and I really wasn’t expecting to see one last week, but to my surprise SPX closed at 1798.18, well over the weekly upper band at 1789.98, so we have the second strong punch over the weekly upper BB in 2013, which is the first time there have been two of these in a single calendar year since 2004. (more…)