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.

Triangle Man

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OK, I've finally found the time and energy to put a post together.

We now know that everyone on the planet is following The Triangle. Even the Wall Street Journal – – hardly the bastion of technical analysis – featured this story earlier today:

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It's interesting to see that the Street's take on the chart is that it's "super-bullish". It sort of reminds me of how we bears were beside ourselves with excitement last August when the giant head and shoulders had formed and a "super-bearish" plunge seemed to be right at hand.

One interesting trade I saw mentioned was long United States/short everywhere else, best expressed with the ratio chart shown below. It has performed awfully well the past couple of years.

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Chart Analysis on AAPL (by Mike Paulenoff)

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Apple is taking a breather after a recovery rally of $12.75, or 3.4%, from Tuesday morning into early trading today. As viewed on our intraday point-and-figure chart, any weakness off of this morning's high should be considered an intervening pullback prior to the resumption of strength that propels AAPL to 398-402 thereafter. Optimal pullback re-entry window is 385-383, with downside overshoot potential into the 381.50 area, ahead of the anticipated next up-leg.

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Originally published on MPTrader.com.

Lazy List

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OK, I confess, this market is doing a breathtaking job of sapping my spirit away. Quite incredible, really. I guess as far as psychological torture goes, the "triangle" is a great way to go. Just to amp it up, having a triangle within another triangle is an even more effective method. Good job, Mr. Market. I am losing my mind, day to day.

Having said that, I'm going to be a lazy slob and just show you the ETFs I am finding most interesting right now. I went through my whole list, and these are the most technically "friendly" charts, in my opinion:

BGU
DUG
ERY
ILF
IWM
JNK
MDY
QLD
QQQ
SPY
USO
XLB
XLI

I'm actually only in one of these, which is USO. I had been avoiding crude oil, but after this morning's big pop, I thought a smallish short position was warranted. I've got a stop at 39.77 with an entry at 39.27

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