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.

Bitcoin Made Target And Reversed Hard

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In my last post on Crypto I was looking at the overall setup on Crypto and the short term H&S patterns on Bitcoin (BTCUSD) and Solana (SOLUSD). Those short term setups are played out now (more details below) and we have been seeing strong rallies across the board which could be the start of a larger break up.

This is a match with what I am seeing on equities, which may be starting a general break up here though, as with Crypto, more needs to be done to the upside to deliver that break up.

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Uncertain Smile on Crypto

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There is a significant discrepancy between Crypto and US equities at the moment, which is casting some doubt on short term direction, though on the bigger picture it seems likely that we are seeing bull flags form on Crypto and the next big move will likely be up.

On the Bitcoin (BTCUSD) daily chart the daily middle band has been backtested and is holding as resistance, so the current trend still leans down.

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Hang Seng’s Noose

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Good morning, everyone, and Happy Wednesday to you. After yesterday’s Chinese wipeout, I was eagerly anticipating the opening in Hong Kong to see how much of a recovery/dead cat bounce was on its way. Sure enough, the market went green, but for about five minutes. It soon eroded back into the red and flopped around there all night, although just fractionally. Hey, I’ll take it. Red is red.

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Index Path Update

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A couple of days ago, I did The Path to Total Surrender post, which nervously pointed out the price action that would, once and for all, zap any morsels of bearish hope for the foreseeable future. So far, those levels haven’t been breached, and on Tuesday we experienced the biggest drop in Chinese stocks in 16 years. Al the same, the risks are still very present, and none of them have changed their price points.

The NASDAQ Composite gap remains unviolated.

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The Possible H&S Patterns Mostly Formed Now

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You need to add a widget, row, or prebuilt layout before you’ll see anything here. šŸ™‚

In my last post on Friday I was talking about the impressive track record for the daily sell signals currently fixed on SPX and Dow and looking at the possibility that H&S patterns might be forming for another leg down on SPX, NDX and Dow as those made target..

After yesterday those H&S patterns are mainly formed now, and if we are going to see those break down Iā€™d expect that to happen in the next day or two, as otherwise the right shoulders, compared to the left shoulders, will start looking too disproportionately large, so the quality of the patterns will deteriorate.

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