SPX broke below 5 DMA support as expected yesterday and tested the 50 hour MA. That will often hold as support at the first pass and may do so here, particularly as the low was also a retest of the 2079.47 high. Well see whether that holds today and the 60min RSI at least is still suggesting lower. SPX 60min 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.
(Part One from yesterday can be seen here). As 2014 sputters to its termination, I wanted to share some of what I consider to be the best posts of the year. I am immensely proud of this blog, which – – incredibly – – turns ten years old next year, and I am exceedingly grateful to those of you who has chosen to spend part of your days here on a regular basis (for some of you, almost as long as the blog as been in existence). Here is the second part of my retrospective: (more…)
Here’s today’s swing-trading watch-list:
Long Discovery Communications (DISCA)
A couple of days ago, I was listening on the radio to Joe Biden speaking at the funeral of one of the two NYPD cops who had been killed on December 20th. Biden referred to one of the officers, whose funeral he was attending, as a “hero.” Not-so-beloved NYC Mayor de Blasio added to this with “New York City has lost a hero, a remarkable man because of the depth of this commitment to those all around him.” So, again: a hero.
I was so angry at what I was hearing that I turned the radio off (and, as boring as driving a car is, it takes a lot for me to choose silence over listening). Why was I so mad? Simple: the fact that these guys were shot dead doesn’t make them heroes. Period. (more…)