Here’s today’s swing-trading watch-list:
Long AMAG Pharmaceuticals (AMAG)
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.
Norfolk Succumbs
I’ve mentioned Norfolk Southern in prior videos, based on its developing head and shoulders pattern. At long last, as of last night, it finally gave up the ghost:
Big Moves Coming Our Way
I was talking yesterday morning about the negative divergence on the SPX 15min RSI and that has delivered a retracement. If rising wedge support breaks this morning then I have strong support at the 38.2% fib in the 2085 area, as that is very close to the 50 hour MA. I have alternate fib retracement targets in the 2078 and 2071 areas. SPX 15min chart:
Liebe Meine Apschminki
The market was a rather curious beast today, as the Russell 2000 reached its highest level in human history during the session. I well remember at the opening bell, some of the more persistently bullish Slopers were scurrying around, high-fiving each other about how this would be a “gap and go” day and how great it was they could simply buy the dip.
The market didn’t gap and go. It came and went.
To my eyes, the market remains utterly vulnerable to a sub-2000 drop on the ES, which would provide a marvelous scenario in which the mindless dip-buyers get butt-hurt on a pro tempore basis.
