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.

Gold, Stocks and the Miners

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One is the star of the year so far, grinding higher in what could be the launch phase of a new bull market as confidence wanes in the face of NIRP and other desperate global policy actions, and the realization that this disgraceful policy designed to spur speculation and asset price appreciation is all policy makers have got left in their bags of tricks. The endgame is a bag with a hole in it; a monetary black hole.

The other grinds on in what could be the last significant hope replenishing bounce before new downside is explored. Various US and global indexes are already in bear markets but casino patrons are trained to look at the S&P 500, Nasdaq 100 and Dow as “the stock market” and these have not yet gone ‘bear’. If the current bear-trend bounce fails however, that confirmation would be coming promptly.

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The Ugly Ducklings

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Late post today as I’m not feeling great. TGIF 🙂

I’m having trouble with stockcharts today so I’m going with the futures charts that I posted before the open for subscribers at theartofchart.net. These make the point that I want to make today pretty well in any case.

That point is that on the three indices that I chart in detail on both RTH and their futures equivalents, the rally has delivered much the same pattern setup, albeit with them at slightly different stages. Mother duck, as it were, is SPX/ES, leading the others in this rising wedge that has broken down, formed a bull flag channel or megaphone for a likely retest of the high as part of a topping pattern, and then broken up from that flag. NDX/NQ and RUT/TF, the ugly ducklings trailing behind, both also need a retest of the high and likely marginal new highs to complete the structure. Neither are too far away now, but if they do that SPX may well be driven up into the 2020s. ES Mar 60min chart:

160311 ES Mar 60min

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