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.

Weekend Look (by Cool Beans)

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Just read Tim Knight's post.  Must agree this has been a challenging month.  We have gone from seeing a Bear Flag … morph to a Wedge and now price has morphed this to an asending channel.  It's a bit much, but one has to expect something like this when price is in a range.  Looks like we are now breaking out of that and I would expect to see moves higher.   Seems like there is nothing to stop the $SPX from moving up to the 1257 level.

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QQQ Update (by Cool Beans)

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Well.. I have one of those Seasonal colds.  So I have been a little cautious in my trades.   Going over the charts this afternoon the question comes up 'Which way now?'  Good question because it seems that we are an an important juncture.

Not looking to build a post that can be seen from outerspace… so  let's look at the charts.

QQQ

Ok.. this chart shows a 'Wedge','Upsloped Channels' and for me the Andrews forks.    What makes this intesting is that the price bar is now higher than the Andrews channel.   Just one bar… well… it's how it begins.  

Below is a chart of the $NASI from Stockcharts.com  Breadth seems to give the impression that we are now in the "BUY" mode… perhaps.  My take is that we wiggle about a bit here… looking very toppy but not breaking down… then …. moving up.

Right now I will be using this sort of chart for my QQQ trades in the 5 min time frame.

QQQ_5min
To aid in longer  inter day time frame  analysis… I will include a QQQ 60 min chart.  So in ending when I see that Break down… I will be trading in that direction.  If it breaks higher then we trade long.

QQQ_60

Good luck and good trading

Cool_Beans