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.

Uncertain Smile

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Back on 15th January with SPX at 1839 I wrote a morning post suggesting that the low just made was of poor quality and giving two trendline targets for a better low. We hit the lower trendline of those two yesterday and for the moment at least we now have a rising channel established from the 1646 low. It may be that this channel won’t last long, and sometimes they don’t, but as long as it survives it is now key support, and that low yesterday may have been the low before a move to the rising wedge target at 1965 begins. What is also worth noting from the daily chart is that we now have possible positive divergence on the daily RSI 5, which delivers the best short term reversal signals on the daily chart. SPX daily chart: (more…)

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