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.
First of all, I’m pleased to let you know that the comments notifications via email work again! That is, when you “@” someone or when you click the Follow button on a comment, you will get those emails like the good old days. Please be prepared for a MEGATON OF EMAIL as the servers catch up with a month’s worth. Sorry about the spam, but it has to clear it all out.
I have another bit of good news for you, though: SlopeCharts now has the Pivot Points study.
Pivot Points are a series of five horizontal line segments drawn on the chart to indicate zones of support and resistance. Because these are based on daily data, the line segments themselves span one month at a time. In other words, the pivot points for June are based on May’s daily data, those for May are based on April’s daily data, and so on.
Applying this study is done by clicking the Studies button in the upper right of SlopeCharts and clicking Customize. That brings up the dialog box with all the available studies. Click on Pivot to choose Pivot Points. In that tab you will see the checkbox (to display the study) as well as the dropdowns to change the default colors and the number used for the bar count. You will normally just leave these alone and check the checkbox then click Done.
As a young man, I bought my house for the same reasons most people do: I was married and wanted to raise a family there. I wanted a nice big yard so I could have dogs. I wanted room to expand. I wanted to live in a safe, quiet neighborhood. So, in 1991, I was able to do all those things. It was a stretch, but we bought a small, run-down home on a large lot in a nice neighborhood in Palo Alto.
I didn’t buy it to make money. I didn’t buy it as a speculative investment. I just wanted a place to live. And yet……….
We did our monthly free public Chart Chat yesterday and, if you missed that, you can see the recording posted on our June Free Webinars page.
ES/SPX has been forming a likely large bull flag over most of the last month, and the flag pattern is the unusual and very poorly named broadening formation, right angled and descending. I’m trying to think of a catchier name.
Be that as it may I like these patterns and, on ES overnight, that pattern has been starting to break up. The full target would be in the 2800-5 area, though we thinking we might see a retracement/backtest from the 2765-75 area, if the island top gap from the March high into 2752.021 can now finally be filled. Our expectation is that this gap should be filled today.
Partial Premarket Video from theartofchart.net – Update on ES, NQ and TF: (more…)