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.

Testing The Weekly Middle Band Again

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I was saying in my last post before the open on Tuesday that if SPX kept testing the daily middle band as resistance every day then another attempt to break back above it was likely and we saw a modest close back over the daily middle band at the close on Tuesday. That followed through to the upside yesterday and yesterday’s close was a confirming close back over the daily middle band, now in the 4506 area, and a test of main resistance at the weekly middle band, now in the 4583 area.

SPX daily BBs chart:

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Knock Knock

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We did our monthly free public Chart Chat at theartofchart.net at 4pm EST on Sunday looking at the options on equity indices as well as looking at the usual wide range of other markets. If you’d like to watch the recording that you can do that here or on our February Free Webinars page.

At the closing print of January an RSI 5 sell signal fixed on the SPX monthly chart. There was already an RSI 14 sell signal fixed but the RSI 5 sell signal is a much more reliable and shorter term signal that has much improved the odds that SPX will deliver the ideal backtest of the 3800 – 3900 area that I’ve been writing about regularly since my August 6th post last year.

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