Slope of Hope Blog Posts

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Pattern Setup Clarifying

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The low yesterday confirmed a triangle option that I wasn’t looking hard at, but I’d not treated as the main triangle option here. It’s big, and when it breaks I’m expecting it to break up. In the meantime Stan’s expecting a marginal lower low today and that would be a false break down as long as the equivalent triangles marked on RSI don’t break down. Resistance is now at yesterday’s broken support in the 2087 area, and Stan is looking for support today in the 2069-73 area, though it could run a little lower. SPX daily chart:

150807 SPX Daily Patterns BBs MAs