Slope of Hope Blog Posts

This is the heart and soul of the web site. Here we have literally tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. You can also click on any category icon to see posts tagged with that particular category.

So Far, So Good

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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.

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Post-Truce Targets

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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:

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Two Longs, Two Shorts

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Let’s keep an eye on opportunities both long and short in this volatile market.

On the long side, ProQR Therapeutics N.V. (PRQR) popped $1.70 to $17.48 on 464,200 shares Wednesday.  The biotech company announced it received Fast Track designation from the Food and Drug Administration for one of its medicines treating severe genetic rare diseases.  The move broke the stock out of its 2-month declining channel.  Looking for a move next to next lateral resistance near $20.75.

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