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.
Sina Corporation Short
Trendline Festival (by Springheel Jack)
The longer term trendlines from October and November are looking a little thin here, as I've mentioned before, but in the shorter term there is no shortage whatever of decent trendlines, and looking at those this morning I think everyone is likely to get a surprise, as there seems to be a powerful consensus that we are going to see new highs today, and my charts are suggesting a move down instead. You be the judge, but I'll show you what I'm looking at.
Short term the move up since last week's low on ES has formed a very nice looking rising wedge cum channel, which I posted yesterday. I suggested yesterday morning that this looked likely to retest the high in the 1342 area before hitting the support trendline and I was very pleased to see that play out exactly as I predicted, albeit in slow motion. The next upside target is in the 1353.50 area at the moment, but I have marked in the potential double-top that is now in play if rising support breaks here: