Slope of Hope Blog Posts

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One Retracement Target Hit Today

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Bears started off with a great setup today with an H&S breaking down with a target at 2107.5 (approx 2113/4 SPX), and just a bit more work needed in the first hour to deliver a trend down day. They entirely failed to manage that, and ES has drifted up slowly the rest of the day. This may have been the bears’ last decent chance to make lower low on this move as the low window ends on Tuesday. It was very likely the last chance to start a move that could break 2100 with any force. ES Dec 60min chart:

161021-I ES Dec 60min

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