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.

Double Top Target Hit

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I identified the rally pattern from Friday as a 70% bearish rising megaphone after the AM low yesterday and posted that on twitter. Hopefully everyone caught that. After the megaphone broke down in the afternoon there was a swift move to make the full SPX double top target at 1914, and to test the weekly middle band, also at 1914, and the 100 DMA at 1912. That is a strong support area and it held yesterday in trading hours, though given the weak overnight action it could break at the open today. SPX weekly chart: (more…)