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.
Here’s your swing-trading watch-list:
Long Aflac (AFL)
It’s not just gold and silver that appear to be starting new cyclical bull trends, it’s commodities across the board. Could this be the start of another 2009-2011 type run? The evidence is compelling.
We didn’t see a support test on either of the SPX or RUT wedges yesterday. SPX made a new swing high under wedge resistance and RUT overthrew that resistance slightly. SPX has come close to a test of wedge support at the open this morning, but needs just a little lower to hit it. SPX 15min chart:
I’m about to head to the Google campus, as I often do at this God-forsaken hour, to walk my army of canines. It’s a fun place for a dog walk, because they can tear around everywhere and amble through the goofy Google employee goodies (like their baseball case, putting green, volleyball courts, and other production-enhancing stuff) without being bothered by humans.
But I was at least glad to see, for once, a little red on the screen.
Indeed, crude oil, which has been my nemesis for months now, is finally getting some selling. Nothing to celebrate yet, but breaking that red line (and, even better, breaking below 50) would cause a lot of oil bulls to start thinking about taking those profits off the table.