It seems all the yammering about oversupply in crude oil is meaningless (as, it seems, 99% of the worries posted on ZH turn out to be). Crude has been strong for a solid month now, and it has since vaulted over its descending trendline.
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.
Uptrend Support Tested and Held
SPX found support just at the 50 hour MA yesterday and bounced from there into the close, though not with great conviction. I posted the chart below on twitter last night noting the rising channel that had been established, and that as long as that channel held this morning then the next obvious target is now a retest of the all time high at 2119.59. SPX 15min chart:
