Down another 10%, and – – incredibly – – only five dollars above where it was in 1972! (I’m serious).
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.
Returning To The Scene Of The Crime
The overnight high on ES was at 2027.25, which was a close match with my target range high at 2026/7 that I gave in my post yesterday morning. A 60min sell signal fixed on ES at the high and ES has made a candidate rally high there in my view. We’ll see whether the bears can follow through on that in the next few days by breaking the rising channel, forming a large reversal pattern and then breaking down from that reversal pattern. Time will tell.
Needless to say much of the interesting action happened while most were asleep. It’s been that kind of a week. When I sat down at my desk this morning at 5.15am EDT, and logged into my RTH trading office at www.princetontrader.com, the morning crowd was still a little thin to say the least, and this was the full comment stream over the next hour:
Gaps Intact
This evening, I got my latest Short-Term Update from Elliott Wave International, and this graph jumped out at me:
