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.

Lost in Space (by Springheel Jack)

By -

SPX has now spent five days trading in a narrow range with support at 1397 and resistance at 1406. Overall this looks like topping action, as SPX is too close to the upper bollinger band on the daily chart to allow for a lot of upside without at least some retracement. What we might well see though is a test of the April high, which is at 1422.38, with the upper bollinger band now in the 1420 area: