I mentioned ICON so many times over the months as a short idea, I started refraining from uttering its ticker in videos, since I had beaten the idea to death. At long last, though, this thing is starting to really move down in a clear way. Huzzah!
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.
E-mini S&P500 Market Analysis
Chart Analysis
Yesterday the ESM15 market closed down again. The ESM15 DAILY chart below shows the support and resistance levels discussed in the LONG and SHORT sections below.
As you can see there is more room to go up than down, before reaching DAILY levels that will offer some meaningful opposition to a continued advance. This means that in theory the path is clear to go up, and combined with the fact that today is (at the moment of writing) the third day down in a row, a bounce is becoming more and more possible as we will see in the TO GO LONG section below.
TO GO LONG
Still In The Balance
SPX broke back below the 5 DMA yesterday and that break triggers the second setup in the last two weeks that requires a lower low before a higher high. I’ve looked back as far as 2007 without finding an exception to this rule. If SPX is in a triangle here, and the possible triangle is still holding, then that may deliver an exception to this rule. SPX daily 5 DMA:
A Marvelous Interview
Would you like to watch a biography? Or perhaps something motivational? Or humor instead? How about all those at the same time – – this is a fantastic interview with Slope’s patron saint:
