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.

All Targets Great And Small

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A week ago I was looking at upside targets on ES and the extended target on ES was in the 3180 target, made by the close of the week. I had other upside targets too with an extended IHS target on NQ that made target at the same time, and bull flag high retests on DAX and ESTX50 that were also made. I have run out of upside targets across the main equity indices that I watch and the December high on SPX is either in or should be close.

In the short term there is an open 60min sell signal and an attractive trendline target currently in the 3150 ES area, ideally to be hit on Monday before a high retest, though there is an SPX trendline target below in the 3155 area that may hold instead, as SPX is the technical dog to the ES tail from a charting perspective.

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Breakout Charts to Watch

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By Harry Boxer, TheTechTrader.com

Two retailers popping on earnings Thursday are among our top charts to watch.

Express, Inc. (EXPR) jumped $1.09 to $5 on 6.7 million shares Thursday, more than 4x its average volume. The apparel retailer released third quarter financial results that beat analyst estimates. After a 12-month decline, the stock has been in a rising channel since September, and Thursday’s 28% move broke it out above the channel top, closing right at lateral resistance. Next target is $5.75, last reached in January.

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Coming Soon – Mean Reversion

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I’ve been talking in my last few posts about expecting a significant high at the end of November, to be followed by a downward cycle into April 2020, and here we are at the end of November, so how’s that looking here? Well as it happens a rare and significant event happened at the close today that confirms the inflection point here and leans strongly towards seeing that retracement next.

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Dow Solid & Shaky

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Below are the thirty stock charts (zoomed in to what I consider appropriate portions) of the Dow 30 Industrials. I have broken them into two groups: solid and shaky.

The “solid” ones basically look like Internet stocks from late 1999. Absolutely insane straight-up madness. Beyond belief. Just itching to be sold. And apparently unstoppable.

The “shaky” ones, which are in the minority, have already started breaking down. So here we go……….(symbols and names are in upper left of each)

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