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.
That was an amazing day yesterday, and the close near the (SPX) lows delivered a second straight daily close well under the 3SD daily lower band, a feat not equalled in the 1987 crash, the 1994 bonds crash, the 1997 Asian Crisis, the 1998 Russian Crisis and collapse of LCTM, the 2000 Tech Crash or the Lehman Brothers in 2008. Why? Not sure yet though Shanghai falling to a level last seen six months ago doesn’t seem like a great reason.
Hat tip to my option trader friend Yousuf Hamid here for his prediction to me at the weekend that the next move would be a hard and fast fall to 1820. Nice call mate.
Friend-of-Slope and long-time contributor 2sweeties (who created Retracement Levels) wrote me this morning stating, in part, “Attached, ES 1949 should be the limit DAILY for this bounce, 1996 is next but far, plus it’s beyond 100% odds, so maybe somewhere in between 1949 and 1996 is where this bounce will stop and roll down again.”
He was kind enough to include this from his site: