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.
Old MacDonald had an oil farm, E-I-A, E-I-A, Oh!
With a stop run here and a stop run there,
here a stop, there a stop, everywhere a retail stop, E-I-A, E-I-A, Oh!
Wednesdays are Prince Spaghetti Day. They are also when the US Energy Information Administration releases its weekly petroleum status and crude oil inventories (except during holiday weeks). Check out the last 3 EIA news scam days.
I’m having a very disrupted week this week as my wife has a big deadline and I’m covering. Normal service will resume next week, but I will be absent from my desk a lot over the remainder of the week.
The nice bear setup yesterday morning fell apart quickly and, if there is no significant support break here, then SPX is still heading up with an obvious target at wedge resistance in the 2130 area. If bears can break below yesterday’s low at 2103.75 and sustain trade below it then I would now have a target in the 2087 area, but I’ll be waiting to see that happen before thinking that the bears might get a serious shot today. SPX 60min chart:
SPX has still not reached my wedge resistance trendline target in the 2130 area and might not of course, but my working assumption is that this uptrend will be incomplete until that is tested. I could be mistaken however. SPX daily chart:
When Springheel referred to One More Heave in his post this morning, I had something like this in mind. Anyway……..
