Slope of Hope Blog Posts

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Testing Key Support Hard

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The bears turned in a second consecutive very solid day yesterday, with a fail at the 50 hour MA in the morning and a close marginally under both the daily middle band and 100 day EMA. If bears can break the low yesterday by more than a couple of handles then that opens up an H&S target at 2085-8 and below that a test of channel support and the daily lower band in the 2078 area. SPX 60min chart:

150626 SPX 60min Rising Channel and HS Patterns