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.
There are four trading days left in 2022. This past week showed us two things. First, resistance is still in play as we rejected the 50 day EMA very nicely on Friday. Second, Friday also showed us that support refuses to yield as we finish the day with a hardy 60 point bounce on SPX. The result is a long wick doji pattern on the weekly chart, which is rather neutral. With lighter volumes we tend to see much more volatile moves and perhaps that is what we were seeing this week. Who knows?
Regardless, the continued support at 3800 is important to consider for the following week. We could see a rally with some choppy swings or we could see a volatile but controlled descent. Either way, it is a bit of a crapshoot. I can’t say for sure which direction to expect. I did provide expected zones should we move in either direction.(more…)
On Friday, there was another lifetime low for Rivian, which is a shame, frankly, because I think they’ve got some beautiful designs! I am seeing their trucks all the time around my fair city.(more…)