ES tried and failed to break back and hold above the 50 hour MA near the open yesterday and it was all downhill from there. The IHS patterns have obviously failed to complete and SPX is now close to another test of broadening wedge support. I think that wedge is going to break and this therefore looks like a formality, but it’s an important formality and more bullish scenarios are still on the table until we see the wedge broken. Here’s the chart I posted on twitter yesterday night with the updated wedge. SPX 60min chart: (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.
T vs VZ Mean Reversion
The Head Fake
Head fake: A Head fake occurs when a player moves the head to fake a change in direction. (more…)
Ten Things Bernanke Isn’t Telling You
Actually, I don’t have a single thing to say about what Bernanke isn’t telling you. I just thought I’d steal the Utterly Ghey technique that those yo-yos over at MarketWatch use as click-bait. Maybe I’ll up the ante by going all Business Insider on you and make every one of my tweets start with “Here Comes…….”, but presently my self-respect won’t permit it. (more…)
