Stan and I did an educational webinar at theartofchart.net yesterday after the close on trading in bear markets, and we were talking then about ES/SPX being at an inflection point where on a conversion of the ES weekly pivot at 2441 to resistance ES would likely head down directly into the low retest, but if decent support was found there ES should reject into a retest of the rally high and ideally head for a target in the 2550 area. You can see a recording on that webinar on our January Free Webinars page.
(more…)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.
Carolinian Bar
Post-Truce Targets
Since it’s clear that various governments are in full-scale Damage Control Mode (and quite successfully today, as the Dow is up something like 800 points as I am typing this), we can probably expect yet another Trade Truce Victory in the coming days. The VIX has already fallen from the mid-30s to the low-20s, and back into the teens is assured with a trade truce.
Bearing that in mind, these are the kinds of targets on various indexes I would watch for in a “best case” scenario of Good News Everywhere:
(more…)Channel Strength
If you think there’s going to be some kind of breakthrough in the US/China trade war, a good way to play it is probably Apple. As I mentioned yesterday morning, AAPL has been in a reliable channel for some five years now, and it’s at the “bargain” level, relatively speaking.
Gold Beat-Down
Yesterday I noticed something interesting: the Japanese Yen (as represented by FXY) tagged its symmetric triangle.
