Slope of Hope Blog Posts

This is the heart and soul of the web site. Here we have literally tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. You can also click on any category icon to see posts tagged with that particular category.

Backtesting Resistance

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I posted my premarket video on my twitter before the open today and if you missed that then you can see that here. I included charts on XLE and XLF today.

On SPX the daily middle band was backtested today and was respected. As long as that remains the case on a daily close basis then last week’s low at 2405.70 should at minimum be retested soon. SPX daily chart:

170705 SPX Daily

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Post-Patriotic, Pre-Market

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I trust Slopers had a safe and enjoyable Independence Day. My family watched about seven different shows from our lofty air-conditioned perch, while I played Sousa music through a laptop. It isn’t exactly like being there, but it’s awfully close.

Looking at the markets this pre-market, the ES is doing a whole lot of nothing. I’ve tinted out what I’m hoping is a decent top, with 2412 being a key failure point.

0705-ES

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