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.

Going for Gold

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Today is a very important day on SPX. Yesterday the bulls rallied it all the way back up to range resistance at 1874/5, the level seen at the last two rally highs and the neckline for what looks a lot like an IHS, but isn’t because the decline into it is too short. Nonetheless if that level is 1874/5 level is broken the ‘IHS’ target in the 1910 area will most likely be made. Looking at ES we may will see a gap over that resistance at the open, and as long as bulls can avoid that opening gap being filled, I would see that as bullish confirmation that the next move up towards my 1965 target from last June has now started. I have rising channel resistance in the 1910-20 area and rising steadily. If we see a big fail at this resistance today then my alternate bear H&S scenario is still in play on a break below the rising channel. SPX 60min chart: (more…)