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.
Today is the last day of both the week and the month, and is a very significant day technically for direction here. Bears want a close well below the weekly middle bollinger band at 1643, and ideally also a clear break below rising support from 1343, now in the 1625 area. A clear break below the weekly middle bollinger band will open up the 50 week MA and the weekly lower bollinger band as targets, and those are currently at 1540 and 1564 respectively. With the June low and the possible major double-top trigger level there at 1560 and the 200 DMA currently at 1561, a test of the June lows is a very attractive target if bears can deliver the goods today. SPX weekly chart: (more…)
I’ve got surprisingly little to say tonight, but i wanted to at least sign off with one market-related thought. Even though JC Penney is lingering around its multi-decade supporting trendline, it seems to me the trendline is badly broken. Subjectively speaking, it seems to me that JC Penney’s future is pretty grim. Even when I was a kid, eons ago, JC Penney was hopelessly out of style (to say the least), and in 2013, I think it is going to suffer to same fate as Montgomery Ward: relevant in a bygone era, but basically doomed on multiple fronts. I tried to short it today, but I couldn’t even find a single share. (more…)
I have a veritable mountain of “catch up” stuff to do, so I won’t have to do a post for a while. In the meantime, I want to celebrate the forthcoming end to the season of the year I hate the most – summer – and the beginning of my favorite – autumn. Here’s my favorite Elvis Costello song……..(whose killer lyrics can be found here):