Here’s the routine I saw in college – – the gateway drug, if you will – – that made me into a lifelong George Carlin fan. I’m flying to Milwaukee tonight, and I’ll have four new videos posted for the weekend.
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.
And There Was Much Rejoicing
Mid-Caps Finally Get a Wedgie
The Russian Triangle
The Long and Winding Triangle
SPX set up a small double top yesterday and has fallen hard overnight. It seems obvious that we are now in the final wave E of this triangle, and there is a clear path back to triangle support in the 2050-55 area if bears can manage it. Support and trigger levels are clear so let’s see what happens today.
The first level of support is yesterday’s low at 2100, and the break of that at the open targets 2088. That opens up a test of Tuesday’s low at 2083.24, and that is the key level today as it is double top support, targeting 2054.57 on a break below it, and the 50 DMA and daily middle band are also both at 2084. This is a very strong support level and it may hold. SPX 15min chart: