Well, the first quarter of 2015 is now history, and it wasn’t exactly a barn-burner. With all the central bank intervention, wild ride in oil prices, insanity in the Middle East, and whatever other lunacy was pressed into the last three months, it resulted in a Dow Jones Average that was……massively unchanged. It. Went. Nowhere.
Slope of Hope Blog Posts
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After more than 5 weeks of consolidation, Apple Inc. (AAPL) looks like it may start another move toward new highs into the 135-150 range. Helped by a strong bounce in the overall market, AAPL already broke the 20-day moving average Monday and is moving toward the descending trend line at around 128. If broken, this is likely to confirm the end of the consolidation period and accelerate prices higher. Downside protection (stop) at 50SMA & horizontal support at around 122.
By Sinisa Persic, Trader.com.
Here’s today’s swing-trading watch-list:
Long Green Plains Renewable Energy (GPRE)
SPX broke back above the daily middle band at 2078 and unless we see a strong reversal candle today that negates that break up, the obvious next target is over 2100. ES has been very weak overnight and we could see that strong daily reversal candle today, so I have the odds of more upside here in the 75% area with 25% odds on a break back down. If we see a break back down that breaks the 2039.69 low, then we may well see a move to the double top target in the 1960 area. SPX daily chart:
Long-time readers have probably deduced that comedians have a special place in my heart. I love to laugh, but in my experience, only 1 comic in 100 is really worth the time. One of the greats is definitely Dave Chappelle. This 2004 special is amazing. Enjoy:
The following was kindly contributed by Paul from Maine……..
I’ve been fiddling with some numbers in Excel and thought you’d find it interesting. It concerns the correlation of NYSE margin debt with the S&P 500.
Margin gives investors and traders the opportunity to borrow money in order to enhance their returns. NYSE margin debt concerns the aggregate value borrowed by all participants utilizing that particular exchange.