Tuesday’s action was almost a picture perfect replica of what we saw last Thursday. Is that a clue that we are going to get the same follow-through afterwards? If so, it would suggest another trip back towards 1680 from here, but again we are left with multiple possibilities on the chart at this time. (more…)
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.
FSLR Attractive Option Play
Despite all the buzz in the name First Solar (FSLR), I’ve stayed away from it until now, because I didn’t consider implied volatility to be cheap for the scenario at hand. Now, however, I do see some attractive plays that I intend to make use of. (more…)
I Hate Truncated Tops
While this top we have in place right now has not yet confirmed itself as a top, the only way to consider it a top of all of green wave (3) or yellow b would be with a truncation in place. Those that have been with us for a while know that I am not fond of truncations, as they are very unreliable trading cues, and are often invalidated as tops. (more…)
Positioning for a Down Move in SPX
I have been exercising patience in the face of this move up and refraining from positioning to the downside too early, given that I was expecting that at least SPX 1710 will get hit and the structure to the upside looked incomplete. At this stage, with SPX having hit 1710 today and soon to be bumping up into the TL off 2009 lows, I am now ready to position for the bigger move down, and wanted to share how I think about it. (more…)
Avi Gilburt’s ES Wave Analysis
I sound like a broken record already, but the market came right down to our support region many times yesterday and last night, but held each time. And, of course, this means that without breaking support, we are looking higher. For today, the 1695ES Fib region is the first level of resistance, followed by the Fib cluster in the 1701-1704ES region. We need a break down of 1687ES for the first signal that wave iv has begun. (more…)
