Here’s your swing-trading watch-list:
Long Oneok (OKE)
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.
Tweet Number One
On my Twitter feed, I’ve done over 15,000 tweets (and have a bit fewer than 15,000 followers) I discovered there was a service that would show you your very first tweet. Here’s mine:
I guess, if nothing else, I’m consistent.
High Retest Likely
The rising wedge on SPX broke down yesterday and SPX should now be in the topping process, though there is still room above for a possible test of the 200dma, currently in the 2022 area. There is a falling channel from the high that is a likely bear flag, and when that flag breaks up on SPX I am expecting at least a retest of the current rally high. Flag resistance is currently in the 1993 area. SPX 15min chart:
Normal Retracement So Far
These days, the machinations of the crude oil market have become more important than anything the Fed says. As helpful as yesterday’s big drop in crude oil was, so far it’s nothing more than a healthy retracement from a breakout. Until and unless it slips beneath the green tint shown below, this is just a normal retracement. If it does indeed break that horizontal line, we’ve got a failed bullish breakout on our hands, and crude has a chance to slip back into the lower 30s (and drag the rest of the market with it).
