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.

Au vs. SPX

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NFTRH185 transitioned from an intensive breakdown of a developing bullish case for gold stocks into a more broad discussion, 'Transitioning to the Macro' from which this brief extract is clipped:

Saving the best for last, behold the Au-SPX ratio and its Cup (3 years in the making) & Handle (conveniently, a Falling Wedge with 5 distinct waves that people who count such things might like to see). A 5th wave could still be in the making down to 1.1, but this is a really bullish structure and I am not afraid to say so.

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Bulls Need to Perform Here (by Springheel Jack)

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We got the move up I was suggesting was likely, but it peaked short of where I expected and the pullback has been deeper than I expected. Overnight the pullback has continued, NQ is testing yesterday's low at the moment, and and (RUT) is well below yesterday's low. There is negative RSI divergence on the RUT 60min and SPX 60min charts and bulls need to hold firm today or we may see 1394 SPX support tested again shortly. If we do see that then the possibility that an H&S top may be forming on SPX will need to be considered. 

For today on the SPX 15min chart, rising channel support is in the 1401.50 area and I would like to see that hold. If it doesn't then I have some support in the 1397 area and main support in the 1393/4 area:

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