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.
Major Inflection Point (by Springheel Jack)
Yesterday was one of those unusual days which saw a 2SD (standard deviation) move on SPX, with a drop from the daily middle bollinger band to a close on the lower bollinger band. In the absence of a major shock, being at the lower bollinger band limits the strength of a further move down, so a move like yesterday's today is most unlikely. If we see more downside there is further major support just below at the 200 DMA at 1380. On a bounce the middle bollinger band is at 1428, and there may be some resistance at the broken 100 DMA in the 1402 area.
