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.

Face-Off Resolution Imminent

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The chart below is fascinating to me. It represents the All World Index, and with a single glance you can see the tension facing equity markets. On the one hand (or, more accurately, on the left side) you’ve got a huge topping pattern, and on the other hand (the right side) you’ve got just as big and just as well-defined a basing pattern. The price is very close to a financial line of scrimmage, and whether it droops away or blasts into the pink area will set the direction of prices for months to come.

Citizen Caned

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When I heard the news about First Citizens acquiring the ruined Silicon Valley Bank, it occurred to me I didn’t know what their chart looked like. So I fired up the symbol (CFG) and, Holy Moses, can you say Head & Shoulders Pattern? This sucker is doomed! Check back with CFG a year form now and see where it’s at. Wow! No wonder they bought a bank in ruins.

Face-Off Still Intact

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The tension and indecision in the market is almost palpable. The reason is that both sides, bulls and bears alike, has a completely plausible argument for taking control for months to come. Below is the All World Index. If the bulls complete that inverted H&S pattern, the bear market is dead and buried. If prices fall out of that pattern (in other words, slip lower and to the right), then I shall rule the world.

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Testing The Water

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I was writing on Friday about the nice looking rally setup on SPX and NDX particularly but obviously SPX was close to first resistance at the daily middle band and I was doubtful about that being broken on Friday, and it wasn’t broken then, or indeed yesterday.

This morning though, SPX has gapped over the daily middle band, currently at 3059, and the next targets to the upside have opened up, though this rally may reached a sudden end tomorrow at FOMC when, in all probability, the Fed will fail to announce that interest rate policy will be softened over the rest of the year.

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