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.
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…)