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.
A Lesson in Integrity from our Patron Saint
General Motors Breakout to Lifetime High
One Last Heave
The triangle broke up as expected and SPX has made a new ATH with some confidence. This kind of setup delivers a termination move and that’s what we are expecting here. That could fail at any time but the high window runs through to 7th February and we are expecting a high towards the end of the high window.
The usual sequence when a triangle breaks is that there is then a backtest of broken triangle resistance, often back into the triangle, and then the termination thrust (up in this instance) begins. That backtest doesn’t always happen but most of the time it does, so I’m assuming we’ll see that here as long as SPX stays under 2300. SPX 60min chart: