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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.
Flakes Show Clearly on Black Hair
I guess my prediction that DXJ would fall (made on April 20th) had some merit to it; thanks, Head and Shoulders! I confess, I am envious of a market that can GO down and STAY down (as I glance over at the SPY, which is down fifteen hundredths of a single percentage point as I’m typing this).
Viva Hate Mail
I very rarely get hate mail, but when I do, it usually marks an important top. This chap has written me mean-spirited emails more than once, and the record is awfully good. I’ve put an arrow at the point late at night when the hate mail was sent to me. I’m glad at least someone is looking after the interests of my “fanily” (sic):
So Here We Are
Yesterday played out as expected, with the intraday high as expected at 2085, at the retest of broken floor support and the daily middle band, and ES has made lower lows against Tuesday’s lows overnight. I’m looking lower again, though there are now possible double bottom setups on all of ES, NQ and TF, and on a break back over 2085 SPX the retracement low would likely be in.
On the 15min chart a decent falling channel was established at yesterday’s high, and channel support is currently in the 2050 area, though obviously that’s dropping fast. Short term support is at the 61.8% fib retracement of the rising wedge from the 2025 low at 2062. SPX 15min chart:
Foaming at the Mouth
Well, I guess we’re at the part of the famed Disney classic Old Yellen in which she has clearly been struck with rabies and needs to be shot. I’ve marked a few failure-points on the charts below with a cyan tint………..there’s equities:
