Slope of Hope Blog Posts
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“How ya doing? Your energy level OK? Everyone all right?”
Our children, treading water in Trunk Bay just as I was, signalled to me that they were fine. Unlike their doughy father, my beloved children are athletic and strong, and they have the kind of stamina that makes a lengthy snorkeling adventure a pleasure. Like their father, however, they are sanctimonious about going au naturel and not relying on fins for their exploration like some of the obese Americans we witnessed.
My beloved kids have the same love of nature that I do, and we had several explorations during the past week that got us close to all manner of reptile, bird, and fish life. As a child, I cherished animal life far more than human, being somewhat of a misanthrope (surprise!), and my daughter in particular inherited this gene from me in abundance.
I posted the premarket video I did today for Daily Video Service subscribers at theartofchart.net on my twitter before the open, and if you missed that you can see that here. I try to post one of these here a week as it also gives updates on the futures for USD, oil, nat gas, gold, 30yr treasuries, copper, coffee, sugar, cocoa and wheat as well as the usual ES, NQ & TF.
I did the SPX & RUT charts below on Saturday so they don’t include the action from this morning so far. I’ll be adding update notes to cover the action so far today.
On RUT I was looking at the low last week at short term rising wedge support. While that support was holding an all time high retest was very much on the table. That has broken this morning and that opens a high probability double top target in the 1410 area, and a target within the larger channel at channel support, currently in the 1373 area. RUT 60min chart: (more…)
Home sweet home! I got back at midnight last night, and after getting to sleep, I naturally got my standard 5 a.m. wake-up call from the canines. I also managed to put my plane flight to good use with an epic long post, which I’ll publish this afternoon.
The NQ, having been down double digits Sunday (magenta tint) exploded higher (green tint) into a double-digit rise instead. It’s eased off a little, but the bulls have certainly won this battle again, which I guess all of us should be well used to by now. The big event in NASDAQ land is, of course, APPL after the close on Tuesday.