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.

WTIC Crude Oil Hovers Above Major Support

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I last wrote about WTIC Crude Oil on December 26, 2017.

The following monthly chart shows that /CL has since rallied to retest its bearish moving average Death Cross apex at $65.00 and is hovering above that price, as well as its 50-month moving average.

If $72.00 is, indeed, in the cards, as I described in the aforementioned post (or even higher to retest $75.00 price resistance), it’s very important for /CL to hold above $65.00, now major support. A drop and hold below could send it tumbling back to $55.00, or lower.

2018 – The Lurking Bear

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I hope you’re having a wonderful weekend, my Slope family.  The Rev was a little under the weather this week, so my usual radio voice will have to be replaced by some illuminating keystrokes.

Before the year ends, I wanted to take a brief look back at the last six month, but more importantly, at the year ahead that awaits us.  In my last market update, from June 23rd of this year, we discussed the continuing bull market in SPX and how it was following nicely the 10 year crude oil analog.  We forecasted continued strength in SPX, as a period of sideways consolidation was likely to breakout to new highs before year end.  SPX closed on 6/23 at 2438, and currently trades at 2675.  Voila!  The crude oil analog in practice. (more…)