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.

Rally Resistance Levels

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I was explaining yesterday why I think that the current move on SPX is just a rally within a downtrend that has not yet bottomed out. That means that I am watching the significant resistance levels above in the expectation that one of those will be a brick wall at which SPX will reverse into the next move down. Yesterday the rally closed at 1830, on the weekly middle band that broke on Friday and is significant short term resistance. It may be that the rally will stall there, though we might also see a break over that resistance and then a return to close back on or underneath it by the close this week. SPX weekly chart:

140415 SPX Weekly Patterns BBs MAs