Slope of Hope Blog Posts

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E-mini S&P500 Market Analysis

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Chart Analysis

One week ago we have outlined two possible scenarios, after the positive WEEKLY Close:

1) start of a new WEEKLY leg up

2) small bounce before another WEEKLY leg down

Looking at last week’s Close, it seems scenario 1) came true. The ESM15 WEEKLY chart below shows it quite clearly: a big green candle rocketing up >50 points from the latest lows/support area in the ~2040s.