Slope of Hope Blog Posts

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US Dollar – Tomorrow’s Hero or Zero?

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Upside on SPX was capped by the weekly upper bollinger band as expected, and the close on Friday was at 1878.04, a point and change above the upper band close at 1876.64. SPX could continue to trickle up under the weekly upper band for a while yet, or we could see some retracement to clear some headroom for a more impulsive move. I’m giving the weekly close ceiling (without a rare and bearish punch over the band) this week in the 1890-5 range. SPX weekly chart: (more…)