I simply cannot see how any thinking person blessed with eyesight can draw any other conclusion than Hal Linden did, decades ago.
At Words Poetic, I’m So Pathetic
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.
Now The Support Test
On Friday morning I was looking at the short term bull and bear options on SPX and at support and resistance levels being tested. The main resistance level was of course the weekly middle band, now at 4518 and with the SPX close on Friday at 4488, just above support at the daily middle band, there was a complete failure to break back up over that resistance.
SPX weekly chart:
Four Square
Well. this is certainly the kind of market I like waking up to see: a equity market which is at the cusp of a major fall:
The Yawning Chasm
I read an interesting paragraph on Friday night (click for easier reading):
I decided to fire up a few charts and test that theory, because intuitively it makes a lot of sense. I therefore did percentage performance charts of three major, but differently-constructed, indexes – – the S&P 500, the NASDAQ 100, and the Russell 2000. Below, for instance, is this trio during a broadly healthy market period around 2004-2005. The indexes aren’t identical, of course, but on the whole they are moving with each other, with little in the way of meaningful variance.
(more…)Between Key Support And Resistance
In my last post I was looking for a retracement and looking at targets below for the likely backtest that was coming, and those initial targets have been hit, more or less. The main target was the mean reversion target at the 45dma, now at 4417, and the current low this week at 4450 isn’t quite a hit, but came close.
SPX daily vs 45dma chart:
