Slope of Hope Blog Posts

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Still In The Inflection Point

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If you missed our free public Chart Chat at theartofchart.net on Sunday then you can see the recording here or on our monthly free webinars page here.

In that Chart Chat we were saying that a retest of the rally high was likely early this week, and we saw that yesterday. SPX has a daily RSI 5 sell signal brewing, a fixed hourly RSI 14 sell signal, and the trendline setup for a reversal here looks very nice indeed. The next step if we are going to see a reversal here would be a break of the short term rising support trendline now in the 4105 area, and ideally the formation of an H&S at the possible neckline in the 4080 area.

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