SPX hit and closed at the daily upper bollinger band yesterday, and may reverse there to retrace into the 50 DMA in the 1670 area or the daily middle bollinger band in the 1655 area (long shot). The falling megaphone target is at the 2013 highs so it’s possible that SPX will ride the upper band into that target, in which case the upper band can rise by 5 to 8 points per day in a strong uptrend as long as it is under the weekly upper bollinger band, now in the 1715 area. If we see that happen today the closing range should therefore be in the 1694-7 area. 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.
PMS
Well, I couldn’t sleep, and when I glaced at my iPad, I realized why – – gold, the one item on which I was bullish, is taking another plunge. Hence the title – Precious Metals Suck. I guess their bear market isn’t over, and I’m going to dump GLD and GDX once the day begins. Sheesh! I’d better go try to get a little more sleep.
