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.
The Three Possibly Unrelated Bears
Using charts from the ones that I did last night for theartofchart.net basic chart service subscribers, so the ES chart is a few hours old now.
Friday was a strange day looking at SPX, NDX and RUT side by side. NDX/NQ was daddy bear, making the target I gave in the morning and the test of decent support that I gave at the same time. SPX/ES was mummy bear, with a decent retrace but not reaching obvious support. RUT/TF was (possibly adopted) baby bear, becoming so detached from the other two that RUT actually returned to retest the current swing high in the afternoon.
Chop Suey
The ES opened +4 on Sunday, and then it began a steady drip lower. It was down to a loss of 12 points, when a designated central bank (this time, China’s) had to leap in and save the day from the prospect of a day not ending with a lifetime high. Thus, as tinted in green, the PBOC managed to destroy the entire dip. It’s leaking again a bit now, but I’ve got to tell you, these central-bank-stick-saves got tiresome a long, long time ago.
Between Apple earnings, the Fed, and the Bank of Japan, it’s going to be a big week, so strap in.
Weekend Review (Part 4 of 4)
I’ve been watching the gap just above 5,000 on the NASDAQ Composite, and thanks to weak earnings from Microsoft and Google, we tumbled away nicely from that gap on Friday. I think it’s going to hold.
