As we all nervously await the Anti-Christ, and whatever miniscule tweaking she has done to the syntax and grammar of the Fed announcement, I’ll share with you a short of mine which is doing particularly well – Las Vegas Sands:
Slope of Hope Blog Posts
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Inflection Point Here
That was a wild day yesterday, and the daily candle looked impressively bearish, but in truth the shorter term pattern setup still looks bullish here, though if yesterday’s lows are broken then that may change quickly. Until then though there is a falling channel from the high, and within that is a falling wedge from 2055 that broke up yesterday morning and retested broken resistance at the close. We may well see this bounce strongly at this retest and then trigger a double top target in the 2060 area with a break over yesterday’s high.
If we see a break below that falling wedge support this morning however, then the lower targets in the 1950s that I was looking at yesterday will open up. SPX 60min chart:
