I present below a portion of the (one hundred and eighteen) current positions I am short which are some particular favorites; I am splitting this into different sections (in spite of the fact that I am doing screen captures on Tuesday night, and the charts will be a little stale by Wednesday) due to the quantity of charts. (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.
The Most Important Line in the World
This is the fifth time the IWM has tagged its supporting trendline. In every prior instance, it has simply pushed higher to new highs never before seen in human history. We are again at the line now (and this is in light of the “great” news of a two-year budget deal from Congress.) If it breaks this line in earnest, the bulls are dead – – and God knows they deserve to be. If the line holds again, then the forces of darkness will continue to prevail. (more…)
Ongoing Retracement
Looking at ES the retracement from the high on Monday is most likely still ongoing, though there is clear positive divergence on the 60min RSI warning that it may not go much lower. The reversal at the 50 hour MA overnight kept ES on the bear side of the MA, and if the retracement continues today the obvious target is the weekly pivot at 1796.20, which should be strong support as the daily middle bollinger bands on both ES and SPX are in the same area. I have the retracement pattern as a 70% bullish (ultimately) falling wedge and I have wedge resistance just over 1805. The main bull/bear line for today is at 1808 as that was the overnight high. ES 60min chart: (more…)
