Granny Nails It Again
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.
Topping Step One Completed
I was talking on Friday and Monday about the likely topping process now in progress on SPX here, and the possibility that SPX would head down into the possible H&S neckline in the 4070 area, supported by the daily RSI 5 sell signal that had fixed. That target was reached yesterday, and the daily RSI 5 sell signal made and exceeded the target at the 30 level on the daily RSI 5.
SPX daily chart:
Wet Matches
The big earnings news yesterday was the one-two punch from MSFT and GOOGL. Pre-market, MSFT is still up strong, but GOOGL has sort of petered out into a non-event. To be fair, the NQ is up triple digits (a little more than 1% as of this moment), but I’m not so sure these earnings, which are old news now, are going to change the intermediate trend on the /NQ
No Thanks, Burma!
Invictus
It’s simplistic. It’s clean. Maybe even naïve. But this is the path that makes the most sense to me between now and Memorial Day: a trek to about 3800, to make a nominal new low for the year 2023.
