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.

Unfinished Business?

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I gave two important resistance levels on ES yesterday morning at 1823-5 and 1830, and ES blew through both of them. This action suggests that the retracement low may be in, and if we see SPX break over the last lower high at 1843.45 then the current downtrend will be broken. Furthermore we now have what look like failed double-tops across most US indices, and when these fail there tends to be a strong reaction in the opposite direction, so we may have now started a powerful move up. Nonetheless I think that the retracement low may still be ahead of us, and I’ll show you why I think that may be the case. (more…)