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.
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End of Quarter Tomorrow (by Springheel Jack)
Just a quick post today as I've been overdoing it a bit since I returned from vacation and I'm feeling a bit washed out. The trendline setup today looks pretty simple today in any case. As I said yesterday morning, the ES rising channel breach and retest looked bearish unless ES broke back up into the channel and we duly had a down day on SPX. A declining channel has since formed since the high this week and immediate resistance is at the broken 1162.75 level (ES). That has been tested and the declining channel established at the overnight high. If 1162.75 resistance and the declining channel hold today then the outlook is still bearish with declining channel support in the 1125-30 area today. If we see a break up through the declining channel and 1162.75 then the outlook will turn bullish and we might see a significant rally today. Here's the setup on the ES 15min:
