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.
Regrettably Right
Well, I've been quite clear about my targets for the NASDAQ for weeks now, and they were nailed almost exactly early in today's trading………
This is one of those times that I can't stand being right – – we were just starting to have some fun!! – – but the dreaded "bounce" may have kicked off with the deep sell-off at the opening bell today.
Downside Targets (by Springheel Jack)
I've been giving some serious thought to downside targets on SPX this morning and, working on the assumption that we are still in a cyclical bull market unless we see a clear break of the 100 WMA, I have a target zone in the 1310-30 area. On the 60min chart there is a decent and perfectly valid sloping H&S targeting the 1325 area. The neckline has already been retested just after the break below it but I'm thinking it may be retested again as the declining channel on SPX has just about held so far and I have a nice looking target at the intersection of the broken neckline and declining channel resistance early next week in the 1404 area. That may not happen but it is an attractive scenario and might well be a good fit with a test of the rapidly declining daily middle bollinger band and the 100 DMA in the same area then:
