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.
An Encouragingly Modest Rally
Yesterday’s trend down day was a refreshing change of pace, and may well be the start of a decent decline, but the key is that a firm lid is kept on today’s rally, and that there is follow through to the downside early next week.
A move like the move yesterday that breaks and closes well below the daily standard (two standard deviation) lower band often starts the strongest kind of daily lower band ride that trades between the 2sd and 3sd lower bands. To make that a likelihood here the 2sd lower band needed to be resistance today, and it has been so far. SPX daily chart: