We may see some nice follow-thru on this EEM channel break and a correction down to major support at 36.50, as shown on this Weekly 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.
Turds with Friends
Some of you probably heard that Zynga laid off more people earlier this week (which isn’t such horrible news for those getting fired, since there is – – for the moment – – still plenty of demand for anyone who can code). But, after dropping over 82% from its high last year, this stock sure has generated a lot of capital losses for folks. (more…)
Rubber Bands
SPX broke below support yesterday and went on to close well below the daily lower bollinger band. SPX also came within four points of testing the 50 DMA, which I would consider a technical hit. SPX hasn’t yet reached my downside target, and I don’t think this correction is over, but I’m definitely looking at bounce options here. SPX daily chart: (more…)
June 6th, 2013, E-mini Prep Work
I try to never outsmart the market.. so I won’t start today. Yesterday’s cash session low came in within 1 tick of the large gap window left behind on 5/03/2013. Therefore if the support level fails, I would expect that large gap to fill. Until then.. we have another reference for support.
Here is the chart:
Looks like a news driven flush is dominating pre-market so we’ll have to wait and see what is in store. Good luck out there today.
