Things start going to “11” after today’s close………..
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.
Dead Sea Scroll
In the midst of all the SlopeTalk testing, the most frequent complaint I’ve heard is that the page cheerfully keeps scrolling as new comments accrue. This kind of makes sense, because some folks use comments almost like a ticker tape. However, some people don’t want that. They’d prefer to leave the page where it was and come back a few hours later to pick up where they left off.
I think we’ve fixed this issue. Please make sure that, in Preferences, you have auto-scroll set to Off, as shown below. In addition, please hit Shift-F5 on your keyboard to make sure you’ve got the latest version. In any case, here’s that link again, and I hope it works smoothly for everyone now.
Adobe Gap Sealed
Yesterday, Adobe (ADBE) sealed its gap virtually perfectly (it pushed above it by a few pennies, which for a stock that is hundreds of dollars is close enough).
Insane Data
It will probably not surprise you to know that I’m a neat freak. I’m the type who wants books at 90 degree angles to the corner of the table. The one who, back in the day, made sure all his albums were in alphabetical order and perfectly aligned at the edge. That kind of guy. An OCD freak.
It thus has me in tremors this morning that the entire financial world has been bathed in absolutely garbage data from the fine folks at the NYSE…….
Very Important Resistance Area Here
The possible H&S I was looking at on Friday morning didn’t form and the move to retest the prior high has done some interesting technical damage to the bear case, so I wanted to have a look at that this morning.
The SPX hourly chart below shows the break over declining resistance from the all time high, which held perfectly at the December highs and established a high quality three touch resistance trendline.
On the bigger picture there is also a decent case that a falling wedge has formed from the all time high on SPX that could be a bull flag. That flag wedge would have underthrown bullishly at the October low and this might therefore be the start of a break up towards a possible retest of the all time high.
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