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.

GOLD Approaching Neckline of Reverse Head & Shoulders

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It looks like a a massive reverse Head & Shoulders formation could play out nicely if GOLD can break and hold above its neckline (and converging 40% Fibonacci retracement level) around 1376, as shown on the Monthly chart below.

Longer term, we could see an eventual run up to converging major price and 60% Fib retracement resistance around 1600. Watch for, not only a continuing rise on the Momentum indicator, but also an increase in its velocity, should we see such a sustained neckline breakout, as confirmation of bullish commitment.

Gold and Miners Finally Bust Out

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As I wrote to my PLUS members on August 24th regarding junior miners, “..…as I look at the miners, I’m seeing signs of life. If you believe the breakout is meaningful and want to amp up your commitment, a good way to do it would by via the triple-bullish ETF symbol below, which itself has had a clean breakout from a rather long downtrend.”

Well, it didn’t take long for this to blossom, as gold has broken out smartly………

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Does Your Neck Hurt Yet From The Metals Action?

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Reading most metals analysis in 2017 has been like watching a tennis match with the analysis going back and forth over the net between bullishness and bearishness.  As the market reaches its highs, analysts turn bullish, and as the market reaches its lows, analysts turn terribly bearish. And, when the sentiment of the market has reached these extremes, it has marked the point in time when the markets have turned.

As I have also tried to warn all year, anyone who uses trend lines as their primary method of analysis has been terribly whipsawed, as the metals love to exceed trend lines right before they reverse strongly.  This is one of the biggest reasons many have become terribly bullish at the highs (right before the market has reversed), and terribly bearish at the lows (right before the market reversed as well).  So, does your neck hurt from all this back and forth during this whipsaw? (more…)

Gold Saved by the Sabers

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The most plain-spoken talk about a military attack against U.S. interests in decades has the ES plunging……..let’s see……a third of a single percentage point as I am typing this (and I would note the highest point in human history was just yesterday). So, umm, yeah, not exactly panic.

I am at least relieved that I covered my GLD short late yesterday for a small profit. I had been long DUST and JDST, but during my tastytrade show I wondered out loud why I had doubled up on something so redundant – – which compelled me to sell DUST (at a tiny profit) after my show was done. So at the moment I am still long JDST only, which may well get stopped out if gold continues its strength (shown below) created by all this “end of the world” chatter.

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