Yesterday’s trading on SPX was ambiguous about whether a top had already been made, particularly at the close. The SPX rising wedge had obviously broken down and I gave the options of a retest of the highs or an H&S to form in yesterday’s post. What we saw was the H&S option form and at the close yesterday that was looking pretty good. ES broke up overnight but at the time of writing has given back most of the overnight gains, and if SPX can open under 1750 then that H&S will still be looking pretty good. If SPX breaks up I’ll be looking first for a retest of the highs and on a break above that I’d be looking for a short term top in the 1765-75 range. SPX 60min 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.
