As we all bask in the glow of lifetime highs across the board (cough cough, wheez, hack), let’s distract ourselves with a favorite of mine, Jiminy Glick. I’ll try to be back later with something salient to say.
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.
After a couple more exploratory pinocchios through 50 hour MA support at the open yesterday morning SPX took the green pill and broke back up through the ES 50 hour MA. I was grumbling on Wednesday morning about the lack of a clear support trendline for this move up, and even though the bears ended up getting their clocks cleaned (yet again) yesterday, my urgently required support trendline has now been established as I now have rising channels from the Feb low on both SPX and Dow. This will give us a clear marker for when this move is topping out, which as I have mentioned, may be very soon. SPX 60min chart: (more…)