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.
Push to the Line
What a pisser, huh? The market plunges into a free-fall and then rallies like mad. But this is absolutely zero surprise. I tweeted this out at the opening bell………..
In The Inflection Point
In my last post on Tuesday I was talking about ideally seeing a higher high on this rally to set up divergence and we have since seen that on SPX, NDX and IWM. That has set possible daily RSI 5 and hourly RSI 14 sell signals brewing on SPX and brought SPX closer to the ideal IHS area at the June high at 4177.
The distance from the SPX 45dma reached a nosebleed level at 6.19% though that doesn’t mean as much after a strong bear move. Still a very good place to be looking for a retracement though.
(more…)Crack Epidemic
It isn’t time to hoist any victory flags yet — not even close – – but it’s nice to see some fissures appearing in the self-delusional, carnival-barker, ethics-free hawking of stocks from the usual suspects. Here we see a failed bullish breakout on the S&P 500 futures:
Thursday Tensions
Tomorrow morning, Friday, will be the monthly jobs report, but there’s almost nothing in the way of news driving the market this morning. Thus, everything is just gently drifting higher. Here we see the /ES has maintained the breakout is achieved yesterday. A failure of this level, about 4147, would be a minor piece of bad news for the bulls, but it hasn’t happened yet.
