I use charting for two purposes: (a) seeking opportunities (b) mitigating risk. Part (a) is pretty simple, because I look at charts constantly, and I find plenty of opportunities (which is the basis of this blog, since I share what I think are the best ones). Part (b) is very important to me, because I am religious about having stop-loss orders in place (in spite of the fact folks like my long-time colleague Tom Sosnoff thinking stops are lunacy). (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.
Sucker Punch
SPX moved straight up through resistance at the daily middle bollinger band on Friday and closed well above it. On my standard view, given that there are no major moving averages above SPX , the next target is the daily upper bollinger band, currently in the 1728 area. This backs up the falling megaphone target back at 1729.86. SPX 60min chart: (more…)
