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.

Tempus Fugit

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Apologies for the very late post. I’m reorganising my schedule to make it easier to get these posts out before the market opens, which I’m hoping will make keeping up with everything easier.

Another painfully slow afternoon on SPX, and the window to see a decent decline here is grinding by. So far SPX is holding the 50 hour MA at 2179/80 as resistance, and the close today was below the daily middle band at 2179, so yesterday’s minor break above was negated. The downside scenario hasn’t been killed off by bullishness yet, but I’m concerned that time is running out. SPX 60min chart:

160830 SPX 60min

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Carpe Diem

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The SPX high window closed on Friday, SPX filled the open breakaway gap at 2164.5 and SPX closed under the daily middle band on Wednesday through Friday last week. We should see a decline here, though I’m concerned that this is all taking too long, and the next low window at the start of next week isn’t moving back. If SPX is to make my target trendline in the 2080 area then it needs to get moving. Otherwise there’s a possibility that we see a smaller decline and spend September just gently topping, which would be a much less interesting alternative. SPX daily chart:

160827 SPX Daily

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Down In The Hole

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A big news day today with Janet Yellen talking about the Fed’s future plans to improve the stability of the financial system. Doubtless she will once again be reaffirming the Fed’s complete commitment, having dug a vast economic hole with overly loose monetary policy and low interest rates since Greenspan’s appointment as the Fed Chairman almost thirty years ago, to keep on digging using the same tools until that hole has entirely disappeared. Obviously we should all hope that the Fed’s efforts doing that in the future are more successful than they have been in the past.

governmentdemotivator

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There’s No Rushing These Things

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Stan’s on holiday this week (as well as last week) and I’m minding the shop at theartofchart.net, so I’ve been more underwater than usual. I try to get these posts out in the morning but that’s not always possible. Apologies for this particularly late one.

Bears had a good day yesterday and the marginal swing high that I was looking for was not made. Does this mean that this seemingly eternal topping process is finally done? Well no, but it’s a step closer to finished. As I mention regularly, there’s no hurrying these things and topping processes particularly can test the patience of even the most experienced traders. It’s coming, and coming soon, but there’s still more to do as I’ll show below.

patient_bear

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