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.
Firstly, I apologize for the length of my post, but I have a lot to say…thanks for bearing with me!
Further to my last weekly market update, here is a summary of where money flow ended for Week 4 of March 2012.
The Weekly charts below of YM, ES, NQ & TF show that YM & ES made a lower close and NQ & TF made a higher close than the prior week. The uptrending channel is still holding as support and direction for the Weekly timeframe. Secondary support levels lie at the middle Bollinger Band (12440 for YM, 1298 for ES, 2438 for NQ, and 772.80 for TF). Both the YM & TF pierced below their lower channel, once again, but managed to close inside…ones to watch for potential developing weakness.
My cousin is currently attending law school at Ole Miss. When we get together I always ask her what she is studying. I never forget to remind her that for graduation I intend to buy her a police scanner, so she can start chasing ambulances. She looks at me with a smirk, but I do believe she is intent on becoming the first female governor of the great state of Tennessee. With that said, the study of law certainly has it’s similarities to trading. We always seem to be on the lookout for precedent.
This weekend I’m looking at a chart of the Euro/Yen. Below is a chart of the Euro/Yen from 2000-2008. My intent this weekend is to take a look at how this trend ended, compare it to the current state of SPX, as well as take a look at current sentiment.
These days, no matter where you get your information, you’ll hear metaphors and analogies thrown around with seemingly no concern how they’re really used in describing a given situation. It it sounds good, well then, it therefore must be appropriate.
Not so fast is what I have to say.
Analogies and metaphors help make the complex more understandable in most cases. They can be more than just helpful when trying to get a complex idea or give unknown variables some measure of light. However if used incorrectly by using the wrong one to describe a situation the results can be not only messy, but down right dangerous.