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.
Another Short-term Opportunity (by Andy Crowder)
I am going to keep it very short tonight. I think my High-Probability, Mean-Reversion chart says it all – a short-term bounce (1-3 days) is imminent.
Yes, the market has pushed into a short-term oversold state and as a result, I have been trading like mad in both of my options strategies. As a contrarian, it is times like these that I feel most comfortable taking a position.
When the ETFs I follow have RSI (2) readings below 2 and followed by a gap lower in the market I am perfectly comfortable adding exposure through directional plays like calls and of course, selling bull put spreads.
Collective Selling Power
Thanksgiving Bounce? (by Springheel Jack)
I was expecting ES to hit 1185 yesterday, which it did, and I was expecting that to hold, which it didn't. 1180 held though and on SPX that was an almost perfect 50% retrace of the rally from the October lows. It might hold and deliver a bounce into the Thanksgiving holiday. ES is at 1193 at the time of writing and there's a promising looking falling wedge on SPX that might deliver a bounce on a break up:
