Since the December 8, 2016 U.S. Presidential election, the Dow 30 Index has gained around 42.57%, as of 2:00 pm ET today (Thursday). It also crossed above a new all-time high of 25,500, as shown on the two Daily charts below.
Slope of Hope Blog Posts
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The little retracement yesterday made the targets on the 60min sell signals on ES and NQ, and denied SPX a record on the number of consecutive all time highs at the start of a year. However it is likely that in a week or so SPX will complete the longest ever period without a 5% retracement.
A decent three touch resistance trendline was established on ES on Monday, and I was looking for yesterday’s retracement to establish a corresponding support trendline. That is now done and I have a working rising wedge on ES with wedge resistance now at 2675 if ES can clear Stan’s resistance in the 2675 area. NQ and TF both also looking interesting and I cover all three in the video. (more…)
Context is important when trading, and in this new-lifetime-highs-every-day market of ours, it’s interesting to take note of which shorts (for example) have managed to survive the best. In that spirit, here are my “lucky seven” best profit-makers as of now on the short side. Each symbol is linked to its own SlopeChart, for your slopecharting pleasure.
Only the Lord knows where these will be when I post this hours from now (I’m trying to store up a few posts while I’m still conscious), but what the heck – – as of this moment, Bitcoin has cracked below its first important support level at $14k……….(UPDATE: I’m in Bratislava, Slovakia now, and I see it’s still below $14k, so there ya go).