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.
Watching the EUR/USD zoom higher is just a heartbreaker, because this was one of the great contrarian plays of the past several years. The EUR/USD was hated by one and all, and parity seemed like a foregone conclusion. But, as always, just when things seemed bleakest, it began a powerful reversal, and frankly, it could keep pushing higher for months at this point. All this “grexit” angst was a tempest in a teapot. Whoosh!
Here’s today’s swing-trading watch-list:
Long Leucadia National (LUK)
SPX gapped down hard below the daily middle band yesterday and rallied to close just under the middle band. What I would like to see now is a break back over the middle band, and then a fast move back to the daily upper band to make a marginal new all time high. I’d be looking for the 2015 high at that marginal new high, and would then be looking for a 300+ handle decline to retest the October low at 1820, with a rally on the way to establish an H&S right shoulder at the likely 1972 area neckline.