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.

Three Day Rule – Day Three

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All charts and video today done last night or this morning for subscribers at theartofchart.net.

SPX spent much of Friday under the 5dma, but rallied to close on it, so the three day rule was not triggered. Bears have a second and last chance today to close more than two handles below the 5dma, currently at 2138.10. If they can then the rule states that we see a retest of the current retracement low at 2119 and likely go lower. If they can’t then the retracement low may well already be in and SPX likely rallies into the high window that opens on Thursday 23rd September, ideally retesting the current all time high or going a bit higher into the 2210 target that Stan and I are looking at. SPX daily 5dma chart:

160918 SPX Daily 5dma

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To B Or Not To B

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One thing that Stan and I are both bad at is drawing attention to our successes, as that feels like bragging, and we both know that good technical analysts are very prone to getting delusions of grandeur, which has a very negative (and often fatal) effect on the future quality of their work. We have no intention of going down that road ourselves.

However a certain degree of self-congratulation seems necessary for marketing purposes, so with some reluctance I’m going to be mentioning some current and past successes along with my equity index analysis today just to demonstrate what it is that we do at theartofchart.net. I’m going to be doing a post there later showing some seriously nice past calls on AAPL to promote our new Big Five (AAPL, AMZN, FB, NFLX, TSLA) chart service that we are launching at the moment, and if you’d like to attend the free public webinar that we are doing on Monday after the RTH close to promote that service then you can register for that here. We will be looking at the charts for all five in that free webinar. (more…)

Ante Omnia Armari

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I’m concluding latin post title week with a phrase which means ‘before all else, be armed’. This market could get very interesting over the next few weeks, hard as that might be to imagine after the last few weeks. We must all be careful not to get caught on the wrong side of a trade that goes the other way hard. The mini-crash almost exactly a year ago followed an August daily band compression that was smaller than this one.

Decent market information is a useful weapon too of course, Stan and I are analysts rather than clairvoyants but on a good day it can be hard to tell one from the other. I’m particularly pleased with this video that I recorded last night for our Daily Video Service subscribers at theartofchart.net, which has given me a very nice morning and a great start to the holiday weekend. I’ll go through the calls on the companion bonus charts below, which were used in the video and then posted for subscribers afterwards. I’ve not included the ES and TF charts as I was mainly relying on the NQ chart for equity index direction, for reasons that should be obvious on the video and chart: (more…)

Poised for a Breakout

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There are a couple elements of this perma-rising market which I actually applaud. One of them is precious metals, which I hope roar to the moon and beyond. The second is bonds. Looking at the chart below, it seems to me the long bond is getting ready to add another leg to its incredibly long-lived bull market. Why people think Yellen might raise rates next week is beyond me. It seems the market believes interest rates are going to hang out near zero for pretty much the rest of our lifetimes.

0608-TLT