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.
Marooning the Bulls on Dickwad Island
Interim Top (by Springheel Jack)
Most likely equities made a significant interim top yesterday. How significant? Hard to say & we'll have to watch the retracement for clues as to what happens next. The level of the wave top was ambiguous to say the least, and though some bulls were throwing parties to celebrate the start of a new bull market, the strength of the wave up, and the levels of the highs yesterday on SPX and EURUSD particularly were making a case that could be read as extremely bearish. Kudos to Pug by the way for calling 1219 as his extended wave target last week.
In terms of the high on SPX, I posted the monthly chart yesterday and mentioned that in each of the last two bear markets, after the initial close below the monthly 20 SMA, that MA had been retested once subsequently in each bear market and held until the bear market bottomed out. That monthly 20 SMA was at 1209 yesterday and SPX closed at 1207. Holding so far then. The high was also an almost perfect 50% fibonacci retracement of the move since the wave 2 high at 1356.48 (50% retrace 1215.61) and of the whole bear market (50% retrace 1222.67).
The Edge I Almost Had (by Macdulio)
(Note from Tim: this is a "big enough to be seen from space" post, but I wanted to get it out there since it pertains to today's forthcoming activity)
Hi Slopers,
You've probably seen me around.
I'm now trying to put together a full article for the first time. I'm a terrible trader with a daytime job and partially or not at all working apps a partially working Blackberry are not too good omens either. Stop lossess are virtually unknown for me.
I still could have had an edge – that I failed to utilize of course.
My approach to the stock market is that it is a psychological cycle made of four stages:
