Slope of Hope Blog Posts

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SPX Outperforming Gold & Oil

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Further to my post of January 5, the following provides an update on price action as of today’s (Thursday’s) close.

The following monthly chart shows the SPXGOLD and OIL in comparison format, as well as their respective high, low and today’s closing price for January, so far.

The instrument currently facing the “path of least resistance” is the SPX. It shot through prior near-term resistance (now support) of 3233 and continues to rally.