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.

Canadian Dollar Points to Reversal in Crude

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One signal that Crude Oil could be putting in a significant low is being flashed by the Canadian Dollar, which has reversed from its plunge versus the Dollar.

Let’s notice on the lower chart that USD/CAD rocketed through its upper-channel boundary line one week ago, followed-through to the upside as Oil plunged beneath $30, but has reversed sharply (USD/CAD) from nearly 1.47 to 1.42 (CAD has strengthened)– and has pressed back inside of the upper-channel line… suggesting that Oil could be poised for a pop to $30-$31 in the upcoming hours.

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Originally published on MPTrader.com.

Confidence Man

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Springheel Jack and I have a couple of things in common with our posts today: first, like him, I want to apologize for being so late. I’ve been very “out of it” today dealing with my totally unexpected new family additions. Second, judging from what Jack said in his post, we both had a “dog” issue stalling us.

Before I forget, a big shout out to Jack for his AMAZING call last year, when he shorted the ES at almost the exact top. From what I gather, he covered today for something like 300 handles on the ES. Good gravy, Jack, congratulations! That is totally amazing!

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Gasoline Going for the Big ONE (by MoneyMiser21)

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While most of the energy sector focus is on oil (/cl), it’s the gasoline futures (/rb) which are nearing the next big level.

Zooming out to the monthly chart on /rb, we see that price has already traded beneath the lowest monthly close of from the 2008-09 crash (Dec. 2008, white dash line) at 1.062.

The next target is a big one, as in 1.00 even (blue solid line). That’s a price not seen since January 2009.

Beneath that we have the 2008-09 crash low of 0.785 hit in December 2008.

There is NO SIGN of slowing the downward momentum, which means certain parts of the county could see $1.00 or lower gas prices at the pump should we re-test that 2008 low.

The one factor which will come into play starting with the March contract will be seasonality, and the general drift higher of gas prices into the Summer driving season.

In With The New

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I’m reorganizing my mornings at the moment to accommodate my increased morning chartload with the futures charts I am doing for theartofchart.net subscribers. There are a lot more charts for me to do now in the mornings, and a subscriber twitter feed to manage intraday, but I should soon be at the stage where I can get the ES, NQ, TF, DX, CL, GC and ZB futures charts posted for subscribers in the hours leading up to a deadline 30 minutes before the open, and then follow up with my free post here ideally before the RTH open, or within the hour afterwards if that’s not possible. I’m still working on that but expecting to have shaken down my new morning routine within a couple of weeks. Working on it.

Stan and I are also shaking down the new private twitter feed, mainly intraday ES at the moment but I’m looking at adding intraday signals on CL soon & possibly more later. Yesterday was a very nice day on the feed, with Stan using a short trade 1967 into 1930 in the afternoon as a training exercise, and for those who stayed after the close we did the same on another trade from 1933 up to 1960 from there, though irritatingly ES stalled three ticks short of my ideal 1961 double bottom target at that high. There are no trade recommends on any of our services but we share our signals, setups and are doing a lot of training on how to trade while minimizing risk.

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