9 years ago – Page 6 – Slope of Hope with Tim Knight

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

By MPTrader - 9 years ago (26, Jul 2016 12:06:19 PM)

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.

Originally published on MPTrader.com.

Square Base

By Tim Knight - 9 years ago (26, Jul 2016 9:33:10 AM)

Here is – gasp – a long idea. Square is forming a saucer base. If it can break 10.22, I’d call that a bullish breakout. They report on August 3rd, which is next Wednesday.

Small Cap Breakout?

By Tim Knight - 9 years ago (26, Jul 2016 7:13:23 AM)

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.

The Yen Trend

By Tim Knight - 9 years ago (26, Jul 2016 5:40:50 AM)

Besides crude oil, there actually is one other market which has been relatively steady, and that is the cross-rate USD/JPY. There was a time not long ago that US equities and the Yen were utterly joined at the hip. For instance, as I’m typing this, the USD/JPY is down 1.33%. In the before-time, that would have meant the ES would be down, oh, about 27 points or so right now. What is the ES doing? Oh, it’s unchanged. All the same, the Yen is still our friend:

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How Do You Like THEM Apples?

By Tim Knight - 9 years ago (25, Jul 2016 7:50:16 PM)

Well, now that I’ve recovered from the 20 minutes of the DNC I watched tonight (including Earth’s Worst Rendition of “Bridge Over Troubled Water”), I thought I’d toss one last post into the hopper to end the day: Apple. They report after the close tomorrow, and I’ve got a big short position in them. My view is that Fibonacci is going to act as a wall (green tint). We shall see. G’nite.