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.
SPX Update…2150 by Christmas Day?
There are 15 trading days left until Christmas day. The SPX closed today (Wednesday) at 2074.33. If the SPX gains just 5.1 points each day until then, it will reach target resistance of 2150, as mentioned in my post of November 1st. Although the Momentum indicator is declining on the following Daily chart of the SPX and not confirming this latest rally, it’s still above the zero level and has made a higher swing high, so anything’s possible.
A Long and Winding Road
SPX made a marginal new all time high yesterday and the odds against the bulls on the historical 5 DMA run stats improved in their favor, as only three of the previous five examples returned to make a new high. Two of those still failed at that marginal new high however, and if we should see failure again here then there is now a very nice looking double top setup that would target the 2023 area on a sustained break below Monday’s low at 2049. SPX 60min chart: