Ever since the market stopped plunging a month ago, we’ve been engaged in a violent tug-of-war between the bulls and the bears in a massive 300-pound range on the /ES. We’re near the top of that range now.
Who to Believe?
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.
Big Blue Afternoon
This is going to be a monster week for earnings, but this afternoon is the most tepid of them. The only big name is International Business Machines, which is extremely close to lifetime highs.
A Short But Winding Road
In my last post I was talking about the possibility of a triangle forming on SPX. That triangle arguably then finished wave D at the low that day and then broke down the next. Had that been a bear flag triangle then the target would then have been a retest of the 2022 low, but it seems likely from the action since then that if there is a bear flag forming here short term, which seems likely, then it is still forming.
I’ve drawn in some trendline options on the SPX chart below for a possible larger bear flag triangle or rising megaphone. The megaphone resistance trendline is in the 4025 area is the highest obvious option.
(more…)A Look Under the Hood (by XerxesTraderGF)
OK. Friday was a rough day. It feels like we were on a road trip. We finally hit the road, a few speed bumps along the way, but we finally hit the highway and started to pick up speed. “Hey, we are making great time! I think we have a few miles of open road ahead of us!” Then we heard some thumping noise and we have to pull over. That was Friday.
It sucks, but we need to check things out. It doesn’t mean the road trip is cancelled. So it’s time for a look under the hood. Is everything ok? Can we continue our road trip now?
(more…)Next Week’s Heat
As we get into the meat of the earnings season (although, let’s confess, Netflix used to be SUCH a huge deal, and now no one really gives a crap about this totally trashed security).
