That was an impressive move up on Friday, and my double-bottom targets on ES and NQ were both made and a little more. Everyone seemed to be getting very bullish on the day's action, but as I mentioned in the morning, there's a strong possibility that we were just seeing a strong oversold bounce. Overhead resistance on SPY is still at declining resistance from July and the daily 200 SMA, and there's nothing much to get really excited about on the long side here until we see those break:
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.
