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.

Eye on AAPL Ahead of Earnings

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Since its recovery-rally high at 101 last Thursday, Apple Inc. (AAPL) has given back about 40% of the entire up move off of the 91.50 low on June 27.

Key support resides between 97.00 and 95.50 intraday. ¬†However, with earnings due for release after tonight’s close, my sense is that AAPL risk from either side of current levels around 97.00 is 5% to 6%, or 101-103 on the high side to 93.00- 91.50 on the low side in reaction to tonight’s news.

A spike that takes out the upper end of the range will confirm the completion of an April-July base-like pattern, while a break beneath 93.00-91.50 will point towards a full-fledged retest of the May low at 89.00.

full-V0uJMVklXvr47QH0Zh8LfOriginally published on MPTrader.com.

Small Cap Breakout?

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The moment the market opened this morning, the small caps went roaring out of the gate for no particular reason. As I’m typing this, they’re easing back a little, but the chart is a bit worrisome for the one or two bears left on the planet, as the Russell 2000 seems to be vaulting past mildly important resistance. The bulls can only truly declare victory if they can push the market past the blue trendline I’ve pointed out.

0726-rut