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.

Double Tap

By -

ES finally broke below the ES 60min 50 hour MA yesterday afternoon and that has held as resistance overnight. On the ES 60min chart I have a double top target in the 1589 area but it may be that well see a strong bounce without making that target as the current overnight low is the possible H&S neckline in the 1593 area. If this continues to form we would see a decent rally today and the downside target on a break downwards would be the 1566 area. If we reached that level we would then see whether we would get the second low of a double-bottom confirming the current low, or break downwards towards the ideal retracement low target around the 1510 area (and the SPX 200 DMA). ES 60min chart: (more…)