Here's the game plan:
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.
Elliott Wave Mad Libs… Part Deux (by Leaf_West)
Since Tim loves EWT and can't go 24hrs without poking the bear, I thought I would post the EWT chart for the next couple of days.
SPY 60-Min Chart
I will repost this chart in a couple of days to show the POWER of EWT … odds are Tim will refuse to post it due to the public embarassment it will cause him (LOL). (Editor's Note – not so! If you or anyone else out there can make good predictive use of this technique, I'm all ears! – Tim)
Cheers … Leaf_West
Short Term Retracement Setup (by Springheel Jack)
I had mixed feelings about the action yesterday and overnight from a directional perspective. On the bull side the early low and grind up yesterday was a classic strong uptrend day and NDX recovered from the gap down to make a new high. On the bear side ES delivered a lower low, the down gap on SPX didn't fill yesterday, and we saw a perfect test of broken ES rising support overnight without a higher high there as yet. Overall I'm cautiously bearish today as long as we don't see a new high on SPX.
Tuesday Thoughts
Patterns Don’t Always Matter
Just a quick example showing not to rely too heavily on patterns. Below is URE (the double-bullish on real estate ETF) with three nice inverted head and shoulders pattern. On one hand, yes, there was a lift in each of these instances, but on the other hand, the lift was either very short-lived or, if it did persist, was choppy and not especially profitable. Past behavior on specific instruments with certain patterns can be helpful in anticipating what subsequent patterns on the same instrument will do in the future.
