Slope of Hope Blog Posts

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Seriously Whippy

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A surprisingly bearish day on Friday and I’ve been reading a lot of bearish commentary over the weekend. I’m not convinced, even though the close on Friday was certainly weak. The main points I took away from Friday’s close were as follow:

– The high to low during the day was almost exactly a 38.2% fib retrace of the move up from 1992
– The close was one point below the daily middle band
– The close was on the 50 day MA
– The close was three points above the 50 hour MA
– The close was fifteen points above the 5 day MA