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.
Well, I am now in New Hampshire, safe and sound. I appreciate everyone’s patience with my travels. As I’ve said repeatedly, things will return to normal, such as they are, on Monday morning.
I wanted to talk a bit about Apple, which has been dropping hard lately. I certainly am no permabear on Apple. Back on November 14th, I told my Slope+ readers that I felt Apple was headed to a “triple nickel” price figure (which it did, and a bit more), and on December 2, I suggested it was time to take profits. I personally don’t trade AAPL much myself, even though it’s one of the most heavily-traded instruments on the planet. (more…)
There was a strong move down yesterday, with the small double-top target I gave in the morning made shortly after the open. Nonetheless it could be that the short term high is not yet in, as the first strong move down often sets up a topping pattern, and we might still therefore see a test of the highs before the retracement really gets going. This possibility is best shown on the ES 60min chart where a possible double-bottom has triggered with a target in the 1839.50 area. There is strong resistance just above at the 50 hour MA in the 1832.75 area and broken support at 1833.25. If those levels are broken with confidence then that 1839.50 target should be made and we might well then see a retest of the highs. ES 60min chart: (more…)