Slope of Hope Blog Posts

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Riding the Upper Band

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Yesterday morning I gave two options for the day and the first was that the SPX ride the daily upper band upwards. SPX closed a quarter point under the upper band so that was the option taken, and an upper band ride can last for several days, rising with the upper band at an average gain of 5 to 7 points per day. If we do the same again today then we should expect the close to be close to 1896/7 SPX. Strong support is at the middle band, currently at 1866. SPX daily chart:

140403 SPX Daily Patterns BBs MAs