Slope of Hope Blog Posts

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Middle Band Retest

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Just a short post on SPX only today as I have work being done on my internet setup this morning.

For the second week the weekly candlestick on SPX was a long legged doji. These are indecision candlesticks, but don’t give any clues to direction as the breakout direction is random. If we see a break up then the weekly upper band is currently at 1903.6, close to a retest of the current high, and on a break down the middle band is currently at 1845, slightly under rising support from the 1737 low. SPX weekly chart:

140519 SPX Weekly Trendlines BBs MAs