SPX followed the daily upper bollinger band upwards yesterday, and using my usual practice of counting any close within two points as a close on the band, closed on the band. The band isn’t rising at full speed yet as the 20 DMA is still turning up, but I’m expecting the upper band to close today in the 1830-2 range, and most likely the SPX close today will be within two points of that. SPX daily chart: (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.
Possible Double-Tops Forming
I was going to post the chart below on twitter last night but became dispirited and went to bed after my main computer crashed for the eighth time. I was showing the possible double-top setup on SPX that was forming yesterday as SPX was repeatedly failing to make a new high. This setup might break down today to retest broken double-bottom resistance at 1792.22. My overall lean for the rest of December is bullish but this needs to be borne in mind today. SPX 15min chart: (more…)
Here’s the Bounce
SPX closed on the daily lower bollinger band for a third straight day on Friday. If we should see the same today then I’d be looking at a closing range in the 1769-72 area. However looking at the overnight action, the bounce that I was looking for late last week may well now be in progress, and resistance is therefore at the middle bollinger band in the 1795 SPX area. SPX daily chart: (more…)
Clean Top for Crude Oil
