Slope of Hope Blog Posts

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Moment of Truth

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Today we should get the answer to the question whether SPX is breaking up towards the next upside targets, or will fail at the retest of the 1902 high. Early indications favor the bulls so far and I’ll be watching this rising megaphone that I posted on Thursday night to see whether it breaks up, very possibly at the open. If it does, and the gap doesn’t fill, then that should be a bullish breakaway gap. SPX 15min chart:

140527 SPX 15min Rising Megaphone