I was talking yesterday morning about the possibility of a retest of broken triangle support and we didn’t see that then. We’re more than likely going to see that today however and I’ve been considering whether the bounce is likely to stop there. Very possibly not I think. (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.
June 4th, 2013 E-mini Prep Work
Yesterday’s trading session did not push above the overnight high, so the same midpoint and resistance zones still stand.
A few important things to mention. The overnight session has made a pretty solid base around the daily pivot point and yesterday’s value area high. The 4pm gap is at 1638.50 and the 4:15pm gap is at 1636.00, while yesterday’s session high was at 1639.00. All this goes to say, that shorting even for the gap fill is contra trend and should be managed accordingly.
Here is the chart:
Relatively light news schedule today. Go get em’
Monthly Charts – Just Breathe
Monthly charts show the really big structure in the market. I believe they depict the expansion and contraction of the economy. The markets at this macro view are like a big lumbering beast that is slowly breathing in and out. When the markets are rising, the beast in breathing in and expanding. When the market lets the air out, the beast is going to contract for awhile. (more…)
The Next Big Currency Move
Fellow Sloper Trades shares his thoughts on currency markets here…….
While still speculation at this time, a significant move could be setting up in the currency markets. If everything goes right (and there is a checklist), some serious coin could be made going long or short various currencies. However, it should be recognized that this view runs counter to the consensus. (more…)
