On November 26th, I posted an article which outlined a hypothetical scenario of the S&P 500 Index reaching 2700 by the next U.S. Presidential election in November 2020.
I realize that this is only one of many possibilities that lie ahead for the SPX. However, given the aggressive economic, tax and fiscal agenda that President-elect Trump is currently promoting, it could, very well, materialize without too much resistance.
The alternate asymmetric double top targets on ES were at 2178.5 or 2181, and the current low at 2184 is a fairly close miss of both. The pattern setup here though is suggesting that the retracement low is probably already in. Hopefully some of you saw me mention that on twitter just after the open.
The pattern on ES was a very nice falling megaphone that broke up on the opening spike. This is the kind of setup that strongly suggests that the low is in barring a possible retest to set up a bottoming pattern of some kind. Is it possible that the megaphone is evolving into a larger pattern? Yes, but historically it would be a bad idea to hold your breath waiting for another leg down that wasn’t just into a low retest or marginal new low. ES Dec 60min chart:
Since the final month of the year is upon us, I wanted to make an announcement that, once again, I’ll be raising the price of the Slope Plus membership by 25%.
As I’ve told my existing subscribers, this change will not affect them, and I wanted everyone to know that you can still lock in (forever) the current price of $39.95 per month by subscribing before the year is over.
The reason I’ve raised the price is simple: I’m still charging way too little compared to the competition, which typically has a monthly fee ranging from $69 to $399. Slope Plus has always been underpriced, and will remain so even after this increase, but I need to be fair to myself.
As I’ve said in the past, I save all my best and most actionable ideas for my Slope Plus posts, and you will instantly be emailed whenever a Plus post is published. I won’t be mentioning this price increase again, but I wanted to urge you to subscribe now. Thank you.
We have all encountered evil in our earthly lives. Perhaps someone was cruel to a family member. Or maybe you witnessed a person mistreating a pet. Be warned. If your heart has darkness, and you live a sinful life, you will know damnation……..and it takes this form:
You may recall my previous post after the initiation stage of the Trump Rally here which was about a week after the election. I shared the likelihood for forward trade was in a flat to up trend, but that there was a lesser chance of a large drawdown if price did reverse. I have a little more context to it now so I thought I might show you what I’ve found.