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.
HUI is torn, frayed and downright bearish. What’s more, it’s been bearish since it started to drop from the SMA 200 failure point.
In NFTRH, we managed bounce #1 (off the Dec. low) as just that, a bounce. Then we managed bounce #2 as just that, a bounce. It doesn’t take a trained eye to see why; only a rise above the October high would have set an uptrend for bounce #1 and a rise above the February high would have set an uptrend for bounce #2.
OK, enough is enough. I’ve had it. Just look at these intraday charts. Take note of the circles. In each instance, that is MY trade getting stopped out. Every. Single. One.
……or you could just hang out on a free blog site with me, who actually cares about you and doesn’t wear gross neckties.
I didn’t manage to get a post out yesterday which is always a risk as Wednesday is my busiest day. The tape was dreary and neither bulls nor bears could manage to sustain a move for long but that’s often what happens when a retracement flag is forming, and that is still likely what we are looking at here.
On SPX bull flag resistance is in the 2391.5 area and interestingly the equivalent flag resistance on ES has already broken up. The falling wedge on the hourly RSI 14 has broken up with a target at 70 on the hourly RSI 14, and SPX is still trading around the 50 hour MA at 2388. That needs to be converted to support to open the upside, or resistance to open the downside. SPX 60min chart: (more…)