SPX made a short term higher high yesterday just above the possible IHS neckline that I have been watching and if we are to see this rally play out then we will either retrace to form the right shoulder of an IHS today or just break up on an already valid double bottom setup. The target in both cases would be the 1680 area, with declining resistance from the high currently in the 1683 area. This is obviously a counter-trend play, but the technical setup is excellent and I think we have a high chance of seeing this play out. 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.
