What was my Tuesday like? Oh, I can probably answer that with a network traffic graph.
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.
Backtesting Broken Resistance
I mistakenly said last week that our monthly free public Chart Chat was last Sunday. It is actually next Sunday, so if you’d like to register for that, you can do that on our May Free Webinars page.
The NQ triangle broke up last week and ES broke up from declining resistance and back over the daily middle band. The short term low is likely made and ES/SPX has been backtesting broken resistance.
There is some scope to go lower, with the obvious support levels on ES at the weekly and monthly pivots, at 2645.5 and 2639 respectively, but these look like bull flags forming so far, and SPX has come close to a test of short term support at the 50 hour MA at 2653. That may be close enough. Partial Intraday Video from theartofchart.net – Update on ES, NQ and TF:
Peculiar Parallel
I noticed the strangest thing – – if you look at the S&P 500 and Bitcoin, they are virtually in lockstep.
The Star Mattered
Yesterday when I was doing my live Tastytrade show, I pulled up the XOP and noticed that it was in a shooting star formation. I mentioned off-handedly that “one day does not a trend make”, but I felt it was worth noting (and I mentioned this with similar words in my post last night here). You can see yesterday’s formation quite plainly, as well as what’s going on today………..
Too Obvious?
Suspicious fellow that I am, I’m afraid of even mentioning this, since I’m afraid to “jinx” the situation. However, waking up this morning and looking at our systems monitor, I am breathing a sigh of relief that, so far, things are silky smooth on the new site. What a sharp contrast to the blow-ups and explosions yesterday (see arrows). The real test is coming in the next hour (I am typing this before the open), when big traffic hits.
