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.
Today’s Rally Just Another Lower High
I sold some longs for nice profits and entered some new short positions this morning. Anyone buying into this rally is in for a surprise.
Double Bottoms and Fed (by Springheel Jack)
SPX respected resistance at 1375 yesterday, and the bear case was looking ok until the AAPL earnings after hours, which has triggered a potentially very bullish setup. On the SPX 15min it looks as though SPX may gap over declining resistance in the 1380 area at the open, and may then retest the strong resistance area in the 1390-6 area that highlighted after the first decline. If it should break over that, a double-bottom target at 1427 would be triggered:
Baker’s Dozen of Longs
Looking at the NASDAQ 100 index and its ETF, shown below, it's not much of a surprise that Apple is bouncing big. After the breakout above resistance (which I've circled in green), both AAPL and QQQ zoomed higher, paused, and then retraced their way all the way back down to the aforementioned line (which now serves as support). Yesterday and today, the market refused to go lower than that line, so when in all likelihood is gaps much higher above it, that line's importance as support will simply be affirmed.
Steady Stream of Lower Highs and Lows Continues
….and this includes the post-AAPL zaniness…..
