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.

New Shorts and Stops

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Perhaps my skepticism about the H&S pattern in the prior post was well-founded. It isn't breaking the neckline. We've got to break below 812 on the /ES for it to mean anything. In the meantime, I've entered these new shorts with these corresponding stops:

ACGL 58.18
ADS 39.78
BHE 13
CAKE 13.70
DHI 11.61
DIOD 12.11
EMR 32.81
FTI 35.14
GES 23.28
GYMB 23.80
HRL 33.44
IVN 7.18
KMX 14.01
LKQX 15.97
NBL 64.01
NNN 18.15
OLN 15.45
PAG 11.46
PENN 27.87
RCII 21.14
TLM 12.06
TWTC 10.06
WDR 20.18
WERN 16.50
WRC 30.20

Measured Move Ahead?

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One of the pet peeves I've got in a veritable zoo of them is the badly-drawn head and shoulders pattern. They are everywhere. It seems that people have great difficulty with this very simple pattern, since they "cheat" drawing them in an almost Picasso-like way.

At the risk of doing the same, I offer this minute bar chart of the /ES:

I do not like hte fact that the left shoulder isnt' fully in contact with the neckline. All the same, this kind of move woudl provide just the kind of heeby-jeebies the market would need to release what's left of the bullish mini-mania and allow us to move higher on better terms. My money is on a move down.