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:
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.
My infatuation with retail shorts is aided greatly by the collapse in auto retailers. Here, for instance, is my first post about shorting O’Reilly. It has fallen 35% in the half-year since that post. Of course, in typical Sloper fashion, instead of thanking me effusively for a great idea offering for free, I get this………
So how many times have I touted auto-related retail stocks on the short side here on Slope or on Tastytrade? A hundred? A thousand? Suffice it to say……..a lot. Here we go…….
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.