And what do we have HERE? I’ll be buying more MARA puts, thank you very much.
Ethereum Intraday H&S
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.
Staple Remover
It’s said that good trading is supposed to be boring. I agree! I am already 100% short with zero buying power, and I’m going to kick back now and let it melt for weeks to come.
In any case, please see XLP, below, which is the Consumer Staples ETF. If this ultimately forms a head & shoulders top, we’re about 80% of the way there:
Backtesting 4200
I had my final divorce hearing this week and that is settled and done. It was a strange sight, lawyers really do strain at gnats and swallow camels. I do wonder how often anything resembling justice is seen in these places and whether, if seen, it happens by chance. I’m glad to be done with it and plan never to return.
In my last post I was laying out the obvious options for this week, and we saw the confirming close below the daily middle band, SPX did go down to the 4120 area as I suggested would be ideal if an H&S was to form and we saw the rally in the last two days that may have largely formed the right shoulder on that possible H&S.
(more…)A Welcome Failure
As a follow-up to my posted-in-the-wee-hours An Unwelcome Saucer, it seems that we have a failed bullish breakout on our hands. Keep in mind, these are short term moves, but at the moment it seems to me the bulls are getting precisely the dose of what we bears were getting a couple of weeks ago – – – that is to say, a through-the-night tease, follow by disappointment when the sun rose.
An Unwelcome Saucer
My sleep schedule is pretty screwy during this trip, so I woke up at about 1 a.m. Palo Alto time (4 a.m. North Carolina time) and saw something I didn’t want to see. Yesterday, upon observing the /ES and /NQ futures, there were two specific levels that, if crossed, would constitute a completed saucer pattern, and wouldn’t you know it, those levels were heeded with near-perfect reverence for the importance of those patterns:
