SPX closed yesterday back at the daily lower bollinger band. I’m not expecting another strong break below the lower band at this stage so if the band is respected we are unlikely to see SPX close significantly below 1621/2 today. Worth noting as well are that SPX declining channel support and rising support from the 1343 low are in the 1623/4 area, and that the 23.6% retracement of the full move up from 1343 is at 1623.22. This is a very significant support confluence near where the SPX daily lower bollinger band is likely to end the day. SPX daily 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.
Light, Sweet, Crude Comparisons
Clearly there’s a shock wave going on with energy markets and crude oil in particular. The past couple days offer some great examples of how sometimes, there is no such thing as too high or too low. But how does this week’s Syrian conflict oil spike compare to prior conflicts? (more…)
