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.

Durable Goods Orders Drop to 2009 Levels

By -

Data released this morning shows that Durable and Core Durable Goods Orders dropped considerably…down to 2009 levels, as shown on the graphs below.

Ones to watch for possible continuing weakness as a confirmation of slowing global growth in 2012. In the short term, this may take some of the steam out of the current equity market rally, as the futures markets dropped immediately following the release. In this regard, I've outlined where short-term support lies for the four e-mini futures indices (YM, ES, NQ & TF) in my post of February 27th.

(more…)

TF is the Weak Cousin to the YM, ES & NQ

By -

Further to my post of February 11th, the YM, ES & NQ have advanced above the minor support levels that they had formed just before the latest unemployment data was released during pre-market hours on February 3rd. These e-mini futures indices rallied strongly (on high volumes normally seen during market hours, not during the pre-market session) immediately after that data was released before cash markets opened.

The TF also rallied on higher than normal pre-market volumes, but it has failed to advance above pre-market highs set that day.

(more…)

Money Flow for February Week Four

By -

First of all, I apologize for the length of my post, but I have plenty to say…I appreciate you allowing me my indulgence and intrusion into your time.

Further to my last weekly market update, here is a summary of where money flow ended for Week 4 of February, 2012.

The Weekly charts below of YM, ES, NQ & TF show that the YM, ES and NQ made a higher weekly close than the prior week, and that the TF made a lower weekly close…it's also the only one not to have made a higher weekly close in February since Week 1…one to watch for possible developing weakness. The NQ is climbing along its upper channel line resistance for the second week in a row.

(more…)