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.
Hey, there we go! A week ago, I suggested a crypto purchase, Band Protocol (symbol $BAND in SlopeCharts). It was discouraging seeing it flop around like a boat-borne fish, but it finally has started moving! This is a super cup-with-handle pattern.
After my post on Friday, SPX spiked up into the trendline I had posted on the SPX hourly chart, and that was the very nice rising wedge resistance trendline from the March 2020 low. That high was retested this morning, the level was respected and weak hourly RSI 14 and RSI 5 sell signals have now fixed.
SPX 60min 15Mo chart:
I’ve dropped out of sight for a while, apart from my usual work at theartofchart.net, and my apologies for that. My divorce has been playing out in the background and I’ve been finding that rather depressing. Hopefully in a few months it will be finished and I will be free to move on to a better future, but in the meantime it is heavy going.
I do love writing these posts though and at the very minimum it is good for me to be writing them, so I am making an effort to restart doing these often, and today is a very good day to restart.
Why is that? Well after this impressive move up over 4000 on SPX, breaking the very nice looking topping setup that had been developing below under that obvious resistance, the market could use a retracement and all the indications are that we are about to see that.
(more…)Here is the OEF (the S&P 100 ETF) for the entire dozen years of this endless bull market. Take special note of the multiple trendlines all converging.
It is very thinly traded, but the alt-coin $BAND is a terrific analog: two cup-with-handle patterns:
