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.

So What Next?

By -

Pretty much everything I have written about in my last few posts on SPX delivered. The bull flag wedge from the high broke up. The IHS that then formed broke up and made target, and the bull flag made the target with a retest of the June high.

So what now? Well I was saying that I was expecting a retest of the high to form a topping pattern setting up a larger move down in a reversion to the mean move. The level I use as the mean is the 45dma and that is now at 4287. The last two such moves broke down through it and, if so, I would be wondering about a possible target at the main rising support trendline from last year’s low, currently in the 4090 area.

(more…)

The One to Watch Tomorrow

By -

Tomorrow morning, an hour before the opening bell is the consumer price index report, which apparently the fate of the world depends upon. I would suggest the most important ETF to watch following this is the small caps, because this thing has the prospect of either completing its bullish base, which would basically kill the handful of bears that are still left, or, alternately, ruining this pattern thus giving the badly beleaguered bears some desperately needed help.

Drift

By -

There will come a day when we (or at least I) will look back on this era and be amazed we got through it. Seriously, this is a drag deluxe. The government has made these markets untradeable except for buy-and-hold-tech-forever types. It’s honestly suffocating.

On that cheerful note, let’s take a look at these “markets” as we mark time, waiting for tomorrow morning’s CPI fiction. Over the past week, the /ES has slowly been working its way slightly lower in a series of lower highs.

(more…)

Lurch then Wait

By -

How nice to wake up to a full five-day working week. No special Albanian Cabbage God celebration. No federally-sanctioned time off due to Pansexual Awakening Month. None of it. Just good old work.

It would be nicer if the steady burn-off in prices that took place all through Sunday night had held on, but no, the magical Midnight hour arrived, and it all went away. I also saw that Squirrel mentioned a “special rebalancing” that was mysteriously announced by the NASDAQ, clearly with the hope of propping up nominal index data for the sake of Ma & Pa Kettle retail investors.

(more…)