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.

Tug Of War

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After the initial decline on Monday the week has been a tug of war between bulls and bears with the bulls trying to break back up over the daily middle band and bears trying to break down through the weekly pivot. As I write neither side has a clear advantage, though the bulls have an edge just because SPX is testing resistance rather than support.

The short term setup here is promising for both bulls and bears. SPX is trying to break over the 50 hour MA and the daily middle band, both currently at 2361. If the 50 hour MA can be broken and converted to support then the short term setup is a small double bottom looking for another test of falling megaphone resistance, currently in the 2376/7 area. If SPX fails at this attempt then this is likely to be a bear flag channel forming, looking for a retest of the retracement lows and likely continuation lower. SPX 60min chart:

170407 SPX 60min

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Syriasly?

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I’m sorry I’ve been AWOL for all this time, but I had a phalanx of family activities, and I was trying to get my family off to the airport on a trip, but that didn’t work out. See, the limp-wristed ghey boys at SFO almost shut down the airport any time it starts to sprinkle here, so all flights were delayed four hours because of – – and I’m not making this up – – “weather”. And I’m not talking about hurricanes and tornadoes. I’m talking about rain. What a bunch of pansies.

Anyway.

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