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.
Another day, another lifetime high across the board on almost every index that exists. I’m reminded of page 191 in MIchael Lewis’ The Big Short, in which MIchael Burry (who was massively short credit default swaps that, inexpliciably, refused to decline in value as they “should” have) was recounted as doing the following:
I don’t shout out obscenities, but I have been exercising my middle finger, aimed squarely at my screens, quite frequently for the past month.
Strong support in the 1870 area was established on ES yesterday, and added to that as support this morning are the hourly lower band at 1871 and the hourly 50 MA at 1872. Resistance at 1877.5 has been strong overnight. I’m leaning bullish today and expect that 1877.50 ES resistance will most likely be broken. (more…)
The ES market has made quite a big move the other day and reached an area where the odds are starting to be quite good to go SHORT DAILY.