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.

Call Me Boring, But…

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Those who don’t like my writing style may already call me boring (or worse), but as far as stock holdings go I willingly take on that description.  If you’re looking for words about yesterday’s FOMC meeting, you won’t find them here.  There are plenty of people picking that thing apart and trying to make chicken salad (news) out of chicken shit (a non-event).

I am not going to go on about the precious metals’ big rip yesterday because that is for casino patrons to get excited about.  I’ve expected the sector to bounce from oversold conditions.  When it takes out real upside parameters (that NFTRH will surely manage) we’ll amp up the hysterics (not really).

The stock market?  It’s scenarios are Thing 1 and Thing 2.  The 1st Thing is to resume upward now and bring on the climactic suck in sooner rather than later.  The 2nd Thing is the healthier one, where the market corrects now and makes new highs and sucks ’em in later.  I’ve favored Thing 2, but now it is time to watch short-term events and do what the market says.  Okay, before I get off track, on to the boring stuff…

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Inside Day …. Probably

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The bull flag channels broke up on both SPX and ES, and the obvious next target is a retest of the ATH on both. As long as wedge support holds, currently at 2365, then my working assumption is that, after an inside day today, an ATH retest is next, with a possible target above at wedge resistance, currently in the 2417 area. First support is at the 50 hour MA, currently at 2370/1. SPX 60min chart:

170316 SPX 60min

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