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.

Launch!

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While at near-term risk, the gold sector is launching, not blowing off

Okay, the title of the post is a bit of a joke at this late stage of the rally because it sounds like hype and we have actually been calling the move in the gold sector a potential launch for weeks now, since gold and HUI each busted through their bear market limiters, the EMA 75 and EMA 55, respectively.

gold and hui

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Crucial Trendlines for Small Caps

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It’s quite apparent that a cabal was assembled on February 11th whose purpose was to Completely Break the Spirits of All the Bears, and they’re succeeding marvelously. This morning alone has been a total whipsaw, with the initial surge-and-purge completely faking out dullards like myself. I must point out the Russell 2000, which has been the king of this miniature bull market, is roaring toward the underside of a critically-important trendline.

0304-IWM (more…)

Possible Rally High Area

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News is an odd thing nowadays. On the one hand NFP was a big beat, so the economy seems to be in better shape than everyone thought, so a recession is less likely -> BUY!. However that means that interest rates are now much more likely to increase again this year and that the ZIRP era is more likely to be drawing to a close -> SELL!. We’ll see how that develops in RTH.

In the short term SPX looks likely to open in the 1995-2000 area that I was looking at yesterday morning (DONE AT 1996) and that may hold. If so then I’d be looking for at least a strong retracement, and possibly new lows for 2016. There is a lot of negative divergence here and this is the obvious area to fail. SPX 60min chart:

160304 SPX 60min Rising Wedge

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