Slope of Hope Blog Posts

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Buffing My Fingernails Modestly

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SPX retested the all time high today, and so the first, though not the only, upside target of the upside scenario that I laid out at the start of next week has been reached.

In my post on Monday 13th Jan I was stating that SPX was at the bottom of the big inflection point that has been forming, and that we were likely to see either a serious break down or a rejection back into the highs, showing the possible bull flag setups on SPX, QQQ, DIA and IWM.

In my post on Wednesday 15th Jan I was looking at the rally from Monday’s low, with the bullish reversal patterns forming on SPX, QQQ and DIA that would likely take them higher, and on SPX should open the test of the main resistance level at the daily middle band That would then need to be broken and converted to support to open the retest of the all time high.

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