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.
What is the very big picture of spot Gold telling us, if anything? That there is a very bullish outlier scenario that could be unfolding…
We can make the case that all of the action from 2013 through mid-April 2017 is a base-accumulation formation that concluded the major corrective period from the September 2011 high at $1921.50 into the December 2015 low at $1046.20.
A decent rally yesterday that took SPX back into a retest of the 50 hour MA as resistance. That’s currently at 2349/50 and supported by the daily middle band at 2352 and the 50dma at 2354. The current SPX low is at a possible triangle support trendline and if that resistance zone can be broken then declining resistance from the high and possible triangle resistance is currently in the 2372-4 area.
SPX 60min chart:
I’ve mentioned KATE as a short many times (including this post, whose date is arrowed below). As Kate’s brother-in-law David Spade might say……….”Buh-bye”.
