One of my favorite sketches of all time:
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.
Ingrates
The Next Inflection Points
I was talking on Monday about the decent looking setup for a lower high on SPX, and so it proved to be. What next?
Well the rising wedge from the early May low has broken down and almost entirely retraced. There is some possible support here, but the trend down day that ES/SPX has delivered so far today may well see 2800 support broken and the next obvious move back into the 2750 area.
SPX 5min chart:
Rejected!
Here are some ETFs whose recent strength has been soundly rejected by the forces of reason, skant though they may be these days.
Unlucky Thirteen
I had 62 short positions and just added 13 more for a total of 75. Here is what I shorted, with my stop-loss prices beneath each chart.
