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.
Apologies for the very late post. I’m reorganising my schedule to make it easier to get these posts out before the market opens, which I’m hoping will make keeping up with everything easier.
Another painfully slow afternoon on SPX, and the window to see a decent decline here is grinding by. So far SPX is holding the 50 hour MA at 2179/80 as resistance, and the close today was below the daily middle band at 2179, so yesterday’s minor break above was negated. The downside scenario hasn’t been killed off by bullishness yet, but I’m concerned that time is running out. SPX 60min chart:
During the past two weeks, or so, Market Vectors Gold Miners ETF (GDX) has declined about 16%. That said, however, the weakness represents a relatively shallow 27% correction of the entire Jan-Aug bull leg from 12.40 to 31.79. The weakness has pressed GDX into a significant support plateau between 27.80 down to 24.00, with my optimal, corrective-target price in the vicinity of 25.85, from where I am looking for renewed buying interest and a technical, upside-reversal signal that alerts us to the conclusion of the corrective period and the initiation of a second upleg in the new bull market in GDX.
Originally published on MPTrader.com.
Since Apple decided it would be a great idea to try to dodge U.S. taxes, they’re now getting pummeled by European tax authorities many years later. In other words, the money that might have flowed to our own country is instead going to Europe. Well done, Apple. You can take that smug, stupid “Designed in California” notice off of all your packaging, since it’s pretty evident you’re not really not that hung-up on loyalty to your native land. Schmucks.
Anyway, AAPL (which I am short) has been putting a damper on the NQ all day, and it’s starting to show.
Here’s your swing-trading watch-list:
Long Terex (TEX)