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.
Swing Trading Watch-List: CAB, FIO, CNO, STT, WDC
An Irksome Divergence
For ages now, it seemed that the USD/JPY cross-rate and the S&P 500 were linked at the hip due to the carry-trade. Day after day, hour after hour, tick after tick, they moved together with such harmony that it seemed to be unnecessary to even have two markets. Of course, now that USD/JPY is moving in a direction that should drag the ES down, there’s a monstrous divergence. The cross-rate is down nearly half a percent now, whereas the ES is up nearly two-thirds of a percent. Lucky, lucky us. Grrrrrrrrrr……… (more…)
Bell Bottomless
I harp from time to time about how the bottom of a chart isn’t “support”, and I used the recent example of Aeropostale to show this (although, as I’ve drawn with the red line, I think it’s ground down to a decent support zone at the moment, which should give it some time to breath before it takes its next tumble): (more…)
Back at the SPX 50 Hour MA
Last Thursday morning SPX was looking like it might gap up over the very important support/resistance level at the 50 hour MA, and I was saying that a gap over that should be respected unless the opening gap was then filled. SPX then tested the 50 hour MA at the opening print and fell 30 points or so after the failure there.
We have a similar setup this morning, and as was the case then, a gap over the 50 hour MA should be respected as an unfilled gap over a resistance level is the strongest kind of resistance break in my view. As with the last time a strong reversal there this morning should be respected as well. (more…)
