Slope of Hope Blog Posts

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A Pause For Breath

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In my premarket video yesterday morning I was looking at the large number of short term sell signs across the equity indices and making the case for a modest retracement before going higher. We’ve seen that modest retracement and might go a bit lower, but a reversal back up directly from here may be seen instead.

There were three short term patterns on US indices that I was looking at yesterday morning, including double tops on SPX and Dow.

On SPX the double top has reached the minimum target, with the extended target a little lower at 6044.

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