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.
Greetings from Atlanta, Georgia, where I’m able to actually use water without guilt (as opposed to California, where we are all praying El Nino actually comes through this winter). I managed to eek my way through the trading day on a plane with a GoGo Internet connection, which is ungodly slow and painful, but it is better than nothing (although just barely).
It was an odd trading day. I was so relieved that the quarter was closed, I didn’t let it faze me too badly that the ES was soaring on the night of the 30th. Gartman finally yelled “Uncle!” in the middle of the night so, as God intended, the markets promptly changed course, and when I woke up they were barely even in the green. It’s too bad the plunge during the day got reversed, and in the end, it was one of those days that might have well just have never bothered opening.
September and Q3 are officially in the books.
Summer bears are likely mostly happy, Dennis Gartman’s outlook on the S&P 500 notwithstanding.
There’s been a lot of talk about is this more 2011, or 2007/2000?
Calling Doc Brown. Fire up your flux capicators to 1.21 gigawatts, as we take a trip back in time.
1. SPX analog vs. 2011 on the monthly chart
Here’s today’s swing-trading watch-list:
Long Chevron (CVX)
Stan and I, for unrelated reasons, have both been having very intense weeks offline this week. I’ve had a total of about 12 hours sleep since I woke up on Monday morning, and am feeling a little ragged. Just for a change this morning then, and so I can get this post up before the open today, I’m going to use a couple of charts that I posted for the main chart package subscribers at theartofchart.net last night.
The ES chart that I posted last night showed a falling megaphone that was close to a resistance test, but with the observation that there was a fixed double bottom target at 1920 that I would expect to be hit, so in that case megaphone resistance would have to break. That megaphone is now broken and ES has made the double bottom target. ES 60min chart (last night):