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.

The Obvious Point of Failure

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In my last post yesterday I was looking at the big inflection points in the current rally on US equity indices that could take SPX and QQQ, and perhaps also DIA and IWM, to retests of their late 2024 all time highs.

The first inflection point in this process was at the Monday’s lows and key support, and they rallied there.

The second inflection point was after the initial rallies, and they pushed through to the upside there.

The third inflection point we reached this morning, and if we are to see this move fail hard, then this is the most likely remaining place to see that. Equally, if bulls push through this, on SPX there is a clear path to the all time high retest and that would likely be made.

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Nope!

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I’ve got a great idea for a new quiz show called “Nope!” In it, you will wake a person up and give them three statements, and they have to pick out the one that’s false. Let’s give it a try:

  • “A series of 1s and 0s in the form of a complex mathematical puzzle have gone up in value from one penny per puzzle to almost $100,000. The puzzle, by the way, has no real practical value.”
  • “Russia has, for the first time, launched an ICBM into the Ukraine war, and therefore all the equity futures are up near record highs.”
  • “A man walking down the street stated that Whoopi Goldberg wasn’t that bad looking, and that he would enjoy spending some time with her.”

You’re right. The third is the impossible one. I guess I made it too easy. Still, it’s a good idea.

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