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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.
Real Estate Busted Trendline
I’m noticing a terribly-interesting breakdown happening place in real estate, encapsulated nicely with the sector fund shown below. Take note of how the long-term trendline is already broken, and as I’ve shown in the inset, we’ve got a nice little breakdown taking place on a short-term basis as well.
Swing Trade JEC CMA WIX
Breaking Down Is Hard To Do
Another week, another inflection point on indices, and after eleven days of compression we are likely to see a resolution up or down today and whichever way this resolves is likely to deliver a daily upper or lower band ride in the direction of the break. Today is a cycle trend day and the odds of seeing a full trend day in either direction are unusually high. We’ll see how that goes. The setup favors downside resolution, but the day is starting with a spirited attempt at a break up. We’ll see whether that lasts.
I’ll start with NDX here as Nasdaq is still driving the equities bus, and on NDX there is a possible H&S right shoulder forming here that is currently overshooting the ideal right shoulder high, but not to an extent that weakens the setup. There is an alternate read that a bull flag forming wedge is forming here, and if that wedge resistance currently in the 5800 area is tested from here then that option becomes a lot more likely. If that bull flag wedge was then to break up the minimum target would be an all time high retest on NDX. NDX 60min chart: (more…)
