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.

Watching the Rally Setups on Crypto

By -

In my last post on Friday I was looking at the overall picture on Crypto and the current setup on Bitcoin (BTCUSD), Solana (SOLUSD) and Ethereum (ETHUSD) which is still in the balance but looking decent this morning, though some key resistance levels still need to be broken to open the upside for a decent rally.

Looking at the bigger picture again there is a double top setup on Bitcoin that has broken down with a target in the 69k to 70k area, and I am still expecting that target to be reached after any rally here.

I would also note on the weekly chart below that Bitcoin is rallying (so far at least) at the weekly middle band, which is a very obvious and historically strong support level.

(more…)

Jerkin Back and Forth

By -

Yikes! Seeing 7:10 a.m. on my clock this morning was a bit of a shocker, especially for me. You know me better than that. I’m Mr. Up at 5 Without an Alarm, and I won’t offer an excuse except something something Duke Something. Anyway, let’s catch up a bit while we all await Powell.

Over the past 24 hours, we’ve gone absolutely nowhere. The arrow below shows what has transpired between yesterday’s open and today’s on the /ES futures, which is a big fat zero. Now I suspect the market will be in a state of suspended animation until Powell announces the amazing news that interest rates will not be changed.

(more…)

A Case For A Decent Rally Here

By - 

Editor's Note: I offer this post from our friend SHJ in the interest of being fair and balanced. I, of course, would hate to see any rally, decent or otherwise!

Every so often something rare happens on equity indices, and I get to run the numbers to see what to expect when that happens, which is something I always enjoy doing. Last week there were touches and punches below the weekly 3sd lower band on the US equity indices, so I’ve been looking back to see what has happened in the past when this happened.

On the bigger picture the topping patterns on the US equity indices that I was looking at in my post on Wednesday 19th Feb have all broken down and none have yet made target, though SPX and QQQ are getting close. I’m expecting to the US indices go lower, but there is a decent case for a rally during the next couple of weeks before we reach Trump’s key date on April 2nd when he has said that his full threatened tariffs on the rest of the US trading partners are going on.

(more…)