Now that SPX has firmly broken over resistance I have been carefully considering the trendline setup here on SPX. That’s not to say that the short term bear case is entirely dead yet, but it is mostly dead and I won’t be considering it seriously unless we see a very sharp retracement below broken resistance in the very near future. One of the last wisps of hope here for the bear case here is the TLT chart, which still hasn’t yet broken back below broken falling wedge resistance and the 200 DMA in the same area. It’s also worth noting of course that SPX has not yet broken above negative RSI divergence on either of the SPX daily or weekly charts: (more…)
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.
Hewlett Packard – Time to Short
I shorted HPQ on Monday based on the Fibonacci retracement as well as the prior gap.
