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.
Bonds Dropping Towards Support (by Springheel Jack)
I posted a rectangle on the 30yr Treasuries 60min chart yesterday and
that broke downwards yesterday morning. It has since almost played out
to the downside target at 26 and is not far above key rising trendline
support slightly over 25:
Here's the daily chart showing the strong support trendline as the lower
trendline of a rising wedge. A break of this trendline would be a major
warning signal that the bear case for the summer was in real trouble so
I'm watching this one very carefully:
For EURUSD I've mentioned before that I have a target of 1.28 that
must not be broken for the bear case. In the very short term though the
action in recent days has resolved into a nice looking rising wedge with
a target at 1.248. I'm thinking that a break of the lower trendline
will signal a more significant retracement than the one we saw
yesterday. As I've been writing this the lower trendline has been tested
and bounced hard:
On ES I have a sort of rising channel, inasmuch as I have parallel
support and resistance trendlines, but I'm doubtful about seeing a
return to the lower trendline in the near future. I am thinking that
we'll see some retracement soon though. My preferred ES target is at
1084. but not until next Wednesday so we would need to see at least some
retracement first. My ES target is as high as 1096 ES if hit today:
I was reading a lot about Atilla yesterday, and his call
last week to go long at 1018 ES was nice work. My calls on Thursday last
week for an imminent or interim bottom at 1000 or 990 ES, and the next
day for a return to the 1070-1090 area, were also very nicely timed, but
the hero of the hour, for my money, is Pug of Pug Stock Market Analysis, who
called the day and the level of the low better than anyone else I saw.
He has been on fire this week calling the waves up as well. Pug's one
of the analysts I read most days & though he has a subscription
service, he publishes his main daily market commentary for free and it
is always well worth reading IMO.
Pug's immediate target for this move up is 1085 SPX, which is very close
to my best looking target level as well.
I'm very busy offline today & may well not get a chance to check in later. Everyone have a great weekend!
Chart From The Comments (Thursday)
Yet another round-up of a few salient charts that were posted to the comment section of SOH today. Enjoy and discuss.
► redvetttes posted: "Q's on the bottom trend line again." (link to his chart)
► springheel_jack posted:
Natural Gas disappoints the bulls as ever:
Click for bigger
► Tarhini_Trade posted:
Gooooooood morning ladies and gentlemen…this is your captain speaking.
Please go ahead and check your maps on the screen in front of you.
Click for bigger
► auger posted three charts covering GLD (here), SLV (here) and GDX (below):
GDX pennant forming:
Click for bigger
► facesincabs posted:
Here is an observation I made last night using the $INDU …
Considering
this $INDU chart, the key here for bulls is valid follow through. BTW,
I have not even looked at the markets yet today, but a quick glance
tells me that the NASDAQ is showing relative weakness to the other major
indexes (e.g., yesterday it briefly diverged from this recent trend).
Click for bigger
► St. Deluise posted:
Doing some fib extrapolation (green fibs), i am thinking the top of this
rally will be around 1099 (~1003 SPX) based on how well that jives with
current price action, around July 19th using fib time series as well
(which also predict a ST high tomorrow (1079) and a ST bottom (1067) on
the 13th.This is mostly a goof but for the record using the
same methods i did manage to predict a low of 996 which is about as good
as you're going to get from the likes of me.
Click for bigger
=^.^=
The Moving Averages Suggested a Resumption of the Downturn
95 Short Setups w/Stop-Losses (By Ryan Mallory)
For once, I was able to weed out a large number of setups from my
list, due largely to the strength in the markets from the past two days. As a result, my short watch-list is just a shade under 100.
But about 50 less from the watch-list I posted last time.
Here are the requirements for inclusion on this list:
1) Price and volume pattern is intriguing
2) Stock has been heavily sold-off in the recent days or weeks, but
still remains on the list for a possible short off of a weak rally
3) Stock is one of intrigue to me, such as Goldman Sachs (GS), so I
keep it around in the case that there is a setup that is too good to
pass up.
Most of them right now fall under #2 as the market in recent weeks
has taken a pummeling. The stop-losses for ALL of the stocks have
been updated. Don't be a stranger if you have any questions. New
additions to the list are highlighted in yellow.
Here are 95 Short Setups
