Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

The Trend is Down (by Springheel Jack)

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Whichever way you cut it the chart setup for equities here looks bearish. SPX still hasn't broken below 1340 support but the repeated failures at the broken H&S neckline last week look very ominous. There are in fact two bear patterns in play here. The first is the sloping H&S indicating to the 1290 area that I've been posting every day. the second is a double-top on the April and May highs, that indicates to 1292. Given that 1292 was also the October high and an important support level, on a conviction break below 1340 the obvious target has to be a test of 1292 SPX:

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