Slope’s most successful business partnership, and a product very popular with Slopers, is TradeMachine Pro. The good folks behind the product produced the video shown below, and it’s a great way to get a solid grounding about options trading. Not a bad way to spend some of your bonus time during this long weekend, right? Make yourself a better trader! Enjoy……….
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.
Support Test and Inflection Point
The research I am doing on the 45dma over the last 25 years is a bigger job than I expected so I should have the post out on that next week.
In the short term though, equity indices have been looking pretty interesting and and are at a significant short term inflection point here. The first part of that is that the daily middle band was tested on SPX at the current low today, and that is the key short term support level. There have been a couple of breaks below that in the last few weeks but there has been no daily close below it since SPX broke back over it in early November. If seen, a clear daily close below it would be a significant technical break. Without that break, a retest of the current all time high would be the obvious next target.
SPX daily chart:
That meme-iest of meme stocks, GameStop, which I wrote about yesterday, is finally slipping (I bought puts yesterday in my Slope virtual account). What is fascinating to me is how obedient the prices are being with respect to the Fibs. Check out resistance (red arrows) and support (green arrows).(more…)
Anyone on the prowl for vulnerable ETFs might want to look at consumer staples, the symbol being XLP:(more…)