SPX tested the daily middle bollinger band yesterday and as with Wednesday, there was then a sustained rally to a lower high (so far). The SPX daily middle band is obviously a significant support level, but there should be more downside coming if the bears can put a whole day together. SPX daily chart:
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.
Interest Rate Slippage
I’m just going to keep driving this point home: interest rates are heading the exact opposite direction people think they are headed. That is, lower. The breakdown continues:
Swing Trading Watch-List: LPX, SPWR, HZNP, BITA, IBN
Discovery Victory
I am very pleased to see Discovery Communications (which I’ve suggested shorting repeatedly here and on Tastytrade) is beginning to break down in a meaningful way.