Remember my laughable and preposterous price target? 5% to go, folks.
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.
The /NQ futures continuous chart hit a couple of key levels and bounced off them Tuesday.
You know that things are starting to turn around for the bears, because people are starting to ship me alcohol. Back in the good old days of 2008, my mailbox was always stuffed with wine and chocolates. That dried up for years – – yes, years – – but recently fine liquors have started arriving. Indeed, I’m sipping on a superb bourbon at this very moment. Slopers are a fine lot.
I asked in the prior post whether people liked the variety of writers we have or whether it should be just me. Well, a large quantity of you responded, and the winner is………the status quo!
Crude oil has been sailing above its supporting trendline for a couple of years now. I am, of course, watching with great interest to see if we get a break of that uptrend.
SlopeCharts has had Fibonacci Retracements ever since it was launched last year. Today, however, we have tripled the number of Fibonacci tools, adding both the Arc and the Fanlines. The icon still looks the same, but now when you click the seashell, you will see three tool choices.
To use any Fibonacci tool on a chart, choose the seashell icon:
Three tool choices appear which are, from left to right, price retracements, arcs, and fanlines. Click any of the three to choose that tool (or click the seashell again to deselect).
Overlayed on each of the following two monthly charts of the S&P 500 Index (SPX) is a Fibonacci Speed Resistance Fan.
The first one is taken from the low of March 2009 to the high of May 2015, which preceded the last major pullback to first fanline support and prior to the recent minor one this past February. Based on this fan trajectory, the first major resistance level sits just above the last all-time high (of 2872.87) at 2900.