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.
If you have followed our advice on April 24th, you may have had a chance to make some good SHORT profits on the ESM15 Future Contract (see chart below), we had a SHORT level with good odds of reversal (77.30%) at 2112, so a 30-40 points profit on the first wave down was possible (our model also provide the exit point for SHORT trades, making market timing easy).
It looks like it is time to go SHORT E-mini S&P500 Futures…
Our PRICE EXTENSION ANALYSIS model below shows how far a price retracement (uptrend) can go on each time period, based on the statistical analysis of all the historical retracement patterns that share similarities with the current retracement pattern.
>> Click here if you want to receive this analysis every day in your inbox. (more…)
One week ago we have outlined two possible scenarios, after the positive WEEKLY Close:
1) start of a new WEEKLY leg up
2) small bounce before another WEEKLY leg down
Looking at last week’s Close, it seems scenario 1) came true. The ESM15 WEEKLY chart below shows it quite clearly: a big green candle rocketing up >50 points from the latest lows/support area in the ~2040s.
Yesterday the ESM15 market closed down again. The ESM15 DAILY chart below shows the support and resistance levels discussed in the LONG and SHORT sections below.
As you can see there is more room to go up than down, before reaching DAILY levels that will offer some meaningful opposition to a continued advance. This means that in theory the path is clear to go up, and combined with the fact that today is (at the moment of writing) the third day down in a row, a bounce is becoming more and more possible as we will see in the TO GO LONG section below.
Hello to all Slopers, before we begin the analysis of the E-mini S&P500 today we want to make a brief re-cap of what was the situation in our last post 10 days ago. Basically we suggested to NOT GO SHORT, because the market was oversold, and we indicated the ~2040 price area as the most likely bottom, you can read it all in our previous post indicated above. The market massively bounced from there, hopefully you have followed our advice and avoided going SHORT at the bottom. Today we will look at the market and try to forecast with our models what is in store for the next 1-2 weeks.
