This chart of the /ES tells you everything you need to know about this week:
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.
I Drink Therefore I Am
Double Retracement Achieved on NASDAQ
The graph below shows that the NASDAQ Composite ($COMPQ) has retraced to two major Fibonacci retracement levels:
- The 23.6% level of the retracement going back to March 10, 2000 (shown in pink)
- The 50% level of the 10/31/2007 to 3/9/2009 timespan (shown in green)
For those of you using Fib retracements, the confluence of two major resistance levels should have more import than if it were just one.
An Economy of Language
I went down to the business center to print a document out, and I noticed this sign above each computer:
Won’t Get Fooled Again
As my "what I learned" post late last night mentioned, I regretted not getting into a counter-portfolio trade yesterday (tinted in yellow). They're not going to do this to me again, though. I bought 20 /ES at 1023 earlier (tinted in blue). If the market plunges, so be it, because that's good for the rest of what I hold. But if it surges, at least I've got some serious action on this /ES to salve the wound.