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.

A Fistful Of Flags

By -

I was mentioning on Monday that the declines on DAX & Nikkei this week looked very interesting and I’ll show you why that was after I go through the short term setup on US equity indices.

I’m looking at those on the 5min charts today as the pattern setups are clearest there, and there is a strong common theme of bear flags forming on those charts.

First on SPX where the rally from Monday’s low has retraced a little under 50% of the decline, there is no obvious reversal pattern to take SPX higher, and the move so far looks very much like a bear flag is forming.

(more…)