Here’s today’s swing-trading watch-list:
Long Caterpillar (CAT)
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.
Crude Downtrend Slow and Steady
Fragile Looking Uptrend
ES has been on 60min sell signals for a while now, with three of them having fixed since the low, and none of those having yet made target. What’s new today though is that on SPX there were 5min and 15min RSI 14 sell signals fixed yesterday, and a 60min RSI 14 sell signal brewing today. This uptrend could be ending here, and I’m watching rising wedge support, currently at 1935, as a break below would look very bearish now. SPX 15min chart:
The Diamond’s Diamond
I wanted to point out a couple of “big picture” charts, as we all wonder just how far this dreadful countertrend rally is going to push. The first is the Dow Jones Composite, which has become, for me, the most important index to watch. There is an interesting gap that took place precisely at the start of the year. Closing the gap would only take another 1.5% push higher in the market. I’ve tinted it below.
Aluminum No Longer Foiled
For whatever reason, aluminum companies have been massively on the ascent. However,they are approaching important gaps that I think should cap their rise.
