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.

Rising Wedge Support Broken

By -

Rising wedge support from 1871 broke yesterday on SPX, and we should now have either seen the uptrend high or be in the topping process. Over half of topping reversal patterns on SPX are double tops so a retest of the highs is very much a possibility.

If bears can take early control today there is currently a small H&S targeting the 2078-80 area on a break below yesterday’s low at 2096. The 50 hour MA is important support to watch at 2089. SPX 60min chart:

151104 SPX 60min

(more…)