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.
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:
Bears Welcome
It’s nice to see that the mere allowance of short-sellers into the 1999-NASDAQ-style Chinese stock market is having a cooling effect, even on our own markets.
Dollar Doldrums
Just a reminder that I am beating the drum for folks to test an iPhone app I’ve been developing. Here’s the post in case you missed it.
I’m not really sure what it might mean for equities, but I think the US dollar is going to start really heading south. The dollar index, as shown below, peaked a number of weeks ago. Since then, it has been – – to put it kindly – – sloppy.
Calling All Testers
Well, I’ve dropped more hints about my “project” that a Hollywood agent drops celebrity names, so I might as well come straight out and ask for your help.
I’m looking for people to test a new mobile app I’ve been developing. This app is just one aspect of a new business I’m working on, but it’s a vital one. The requirements for beta users are simple:
- You need an iPhone or an iPad with a cellular connection;
- You should enjoy getting out and about in your town;
- You need to print, sign, and mail in a non-disclosure so that my project is kept secret (please write the email address you use for your iTunes account on the form in the space provided).
Click here to download the non-disclosure agreement. which is a Word document. Mail it in to Tim Knight, 555 Bryant #711, Palo Alto, CA 94301 and I’ll be in touch via email about next steps.
A number of you have already written, expressing interest in testing this mysterious new creation of mine. Now’s your chance! Thank you very much.
