Hot Wheels
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.
No Improbability Drive
I was saying on Wednesday that the decent looking bullish setup was still there, but in the light of the Fed Chairman’s candid comments about future policy over the last few days a significant drive higher was looking improbable. I was looking for a test of weekly pivot at 4007 and then a fail there if we were going to see the bull scenario fail. SPX made it back to 4017 and failed hard, so the bull scenario, while not quite entirely dead, is now looking increasingly unlikely.
(more…)Cleaning House
After such a fantastic day yesterday, I have to wonder if bears are going to be required to pay the piper today. After all, just about every human on the planet stands counter to the bears, so you’d figure after just one good day, we’d get smacked in the face, hard. We’ll see soon.
Overnight, there’s none of that tension. The past nine hours, the market has been grinding around in about a 5 point range on the /ES.
