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.
There's a clear resistance area that the stock has managed to break through this morning and you can simply put a stop-loss below the previous higher-low on the daily chart at $33.59. Since late March it has been on a prolonged sell-off, but over the past two months, it has formed a nice base, and today's breakout confirms it's ready to start trending higher again.
Here's the trade setup in ADSK:
The Commodities ETF (DBC) began and ended today (Tuesday) at
the apex of and in between trendline resistance and support, as shown on the
Daily chart below…an important one to watch tomorrow and thereafter!
An indication of weakness would likely be confirmed by a failure of
AUD/USD to regain and hold above 1.05, along with further
weakness in China's Shanghai Index, as discussed in my posts of
August 17th and August 15th.
Only the latest in a lifelong string of winning ideas:
Each candle on the chart below of the EUR/USD
forex pair represents 500 pips. The current candle bounced from
a Fibonacci and price confluence support level on July 10th of this year and has
rallied 446 pips, so far. Should it continue to advance by a total of 500 pips,
it would put price at 1.2541, which is at a confluence of price and Fibonacci
resistance.
You can see that this 500 pip level, as depicted by
the two white horizontal lines, represents a major level of support and
resistance. A break and hold either above or below this "500
pip zone" would set the stage for the next move up or down over the
ensuing days/weeks…an important zone to monitor.
SPX and Dow both reached the ideal target area for a double-top yesterday, with both making marginal new highs for 2012 and reversing. I think there's a sound technical argument for seeing a test of the 1440 area pivot on SPX, but if this is a double-top forming then ideal targets were reached on both yesterday. Here's how that looks on the SPX daily chart:
