There are a few important inflection points to look at today and the first of those is on SPX. On the daily chart SPX closed well above the daily middle bollinger band and significantly over the 50 DMA. This resistance break would usually extend into a test of the daily upper bollinger band, now in the 1658 area. SPX daily chart: (more…)
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.
Weekly Charts – Don’t Buy-and-Hold Gold Stocks
The week that was – wasn’t very exciting. The shortened trading week and first week of July produced inside price HA Candles on the regular charts. I’ll still show the usual charts and provide some additional research into my gold stock shopping list that I’m working on (first reported here). (more…)
Bear Market: Exhibit A
Gold’s pattern over the past couple of years has been plain as day:
(a) fall a bunch;
(b) hit a new low;
(c) start to bounce, at which point – within hours, usually – the gold bugs proclaim the bottom is IN, and that gold is heading to $5,000/ounce real soon now;
(d) we hit a fresh pocket of resistance;
(e) the plunge continues anew (more…)
Fibonacci Triangles
I wrote two posts over the weekend in my Brave New World series. There will be at least two more in the series but they’re very time-consuming to write so it might be a few weeks before the next one, which will most likely be looking at the big picture on bonds. The links to the series so far are below: (more…)
Weekly Charts – Thoughts on Gold
Happy Canada Day to Canadian friends and Happy Independence Day to American friends!
The Macro chart that caught my attention this week was on Bonds and is shown below. It’s pretty self explanatory. We have a good 7 year channel in place with many tests to the upper and lower trend lines. The break outside the channel is a warning flag that something is changing. Price will likely fall back into the channel but breaks outside of well established channels require consideration. (more…)
