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.

Break Up On Crypto

By -

All the new weekly pivots are on the daily charts posted below.

The last few days I have been watching the resistance at the daily middle band on all three of BTCUSD (Bitcoin), ETHUSD (Ethereum) and SOLUSD (Solana). An H&S pattern had formed and broken down on Solana, and another was still forming on Ethereum. If resistance at those daily middle band held then the setup was likely to break down further, into targets of 119 on Solana and 2,250 on Ethereum. On a sustained break up over those daily middle bands, and the failure of the H&S pattern on Solana on a break back up over the H&S right shoulder high at 152.17.

(more…)

Everything’s Eventual

By -

Finally some signs of a genuine, can be seen with the naked eye, retracement on equity indices today. I was talking in this morning’s premarket video about the possibility of setting up some decent quality hourly RSI 14 sell signals on SPX and NDX for the first time since the all time highs were made and they set up and fixed this morning into the decline that we have been watching today.

I have been muttering that without retracements there are no chart patterns, and this delivers a shot at finally seeing some of those form, and also a shot at setting up decent possible negative divergences on the daily RSI 14 or RSI 5 charts, again for the first time since the all time highs were made.

(more…)

Crime Scene Bear

By -

There have been a couple of very decent looking short setups here on SPX and NDX this week, and both times the markets just ripped up through them. The bear flags formed and broke up, the SPX, NDX and INDU broke back up over their daily middle bands and are now testing their monthly pivots, while multiple hourly sell signals that had fixed at these obvious resistance levels failed, including two each on ES and NQ. Altogether it was an ugly week for the bears.

(more…)

Bear Flag Trio

By -

On Thursday last week I wrote a post looking at the possible four larger bear flags that could form on SPX, NDX, Dow & IWM after the sharp decline on Wednesday afternoon. Of those four, there are three decent looking larger bear flags that have since formed, and this morning we are watching the inflection point where these flags may break down into retests of the retracement lows made on Monday last week.

On SPX the obvious larger flag resistance trendline I drew on Thursday was hit perfectly on Friday and overthrown slightly today.

(more…)