In spite of my kindly post about Yahoo yesterday, I’ve decided to do something I am not sure if I’ve ever done……….short YHOO. My stop is at 33.22. This has just become silly.
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.
Knife Fight at Support – Day 3
First let me express some sympathy for those who bought the close yesterday in the expectation that the falling wedge on SPX had broken up and retested and that yesterday’s strong close was a break up. I did say yesterday morning that the falling wedge on SPX wasn’t of high quality. However the falling wedge on ES is a decent quality pattern and that broke up at the close yesterday. As long as support holds this morning, with ES having currently made marginal new lows for the week, there is a strongly bullish setup here with the broken falling wedge and possible double-bottom targeting the 1710.5 area on a break over 1696.5. (more…)
