Perfect Luminar Rejection
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.
When Patterns Fail
It should go without saying that I like patterns. I see them everywhere: not just in charts, but in physical objects, human behavior, and events in my life. There’s even a term for it – apophenia – which isn’t necessarily a laudatory title. It can suggest seeing patterns where there really aren’t any.
As the proprietor of this little corner of the web, I try to do a good job showing patterns that I see, but there are certainly times when a given pattern – – even a remarkably good one – – can “go sideways“, as the expression goes. That is to say, it starts to do what it shouldn’t do, and it ruins the pattern. Here are a few examples from some long-term continuous futures contracts that I just thumbed through, and I’ve marked or highlighted the areas where things went bad.
(more…)Blood Bath & Beyond
Friday The Thirteenth
I mentioned in my post a week ago that on a break back over the daily middle band there were fixed buy signals on the daily and hourly charts that might carry SPX significantly higher and so it was, with SPX hitting 3997 at the high yesterday, and those buy signals have now all made target. I’m looking for signs of a high forming, and there are some signs here.
There is no negative divergence on the daily chart here yet, so I’m thinking we might see a sharp retracement here back into the daily middle band, currently at 3868, then retest the high to set up a possible double top.
(more…)Emerging Touch
The massive rally since mid-October has yielded a perfect touch on the broken trendline for the emerging markets fund EEM:
