Here is today’s swing-trading watch-list:
Long Lululemon (LULU)
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.
Consider This
To the newfound legions of buy-the-dippers out there, at least take the opportunity to look at the likes of JNK and HYG (shown below) to consider that maybe, just maybe, the intermediate-term conditions of the market aren’t what they used to be.
Buy Signals Triggered
The long setup I was looking at on Friday morning triggered on Friday so the daily lower band ride should be over and I’m looking at upside targets. The main target I’m watching is not an SPX level but the 70 level on the daily RSI 5. The RSI 5 closed on Friday at 47, and I’d expect to see a rally of at absolute minimum to the 50 DMA to make this target. Of the last seventeen of these from the start of 2007, only three retested the lows before making my RSI 5 target at 70, and two failed in the 60 area before going on to new lows. This is a strong buy signal. SPX daily vs RSI 5 & NYMO:
