Slope of Hope Blog Posts

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Mind The Gaps

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SPX hit the 2172 target I gave yesterday morning and has traded as low as 2168.5 at the time of writing. This area may hold, and if so the obvious rally target would be the left shoulder high at 2187/8, with important resistance at the 50 hour MA currently at 2182/3. If SPX was to fill the open gap at 2190.15 we would likely see a marginal new high, probably at or under 2200. If SPX fills the open gap just below at 2164.25, then that opens up the next decent support level and possible H&S neckline at 2147/8. SPX 15min chart:

160817 SPX 15min