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.
NASDAQ Shelf of Strength
It made sense that we got a bounce today; the bounce could certainly continue into next week. That's fine; I've trimmed back my shorts and took profits; I even made some profitable long day-trades. But it won't take that long for this bounce to end, and when it does……well………let's just say traffic to Slope is going to continue increasing.
Analysts Prove Their Suckitude Once More
Bearish Trendline Break on the S&P 500 Index (by SB)
Following on the heels of yesterday's bearish trendline breaks on 6 of the 7 Major
Indices, the SPX broke and closed below its uptrend line from the October
2011 lows in today's (Thursday's) price action, as shown on the chart below.
Note that each candle represents three (3) days on this chart.
All seven Major Indices have now broken and closed below this major
uptrend line in what could be a setup for a major move down. Any backtest of and
subsequent failure to break and hold above the respective trendlines would
confirm such a scenario. Of course, we may see continued (and even accelerated)
weakness from here, which could send the related E-mini Futures Indices (YM, ES
& TF) to their respective Head & Shoulders targets of 12400, 1330, and 735, inasmuch
as their necklines have now been broken.
Apple’s Path to the Mid-400s
I projected AAPL would get to 710; it got over 700, but not quite to my target. I then projected AAPL would go to $585. It did, and then a lot more. So what's next for AAPL, according to your favorite permabear?
I'd suggest the path before us is below; we've already started out bounce to a little below $580; after that, the wheels come off.
