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.

The Crazy 88s – Part 2 (by Consistently Incredulous)

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Just a quick update on my long-view:   I’ve kept an eye on SPX’s 88 week SMA and EMA since my post in August, when we had a break below.  That break lasted until the big October run-up, but the Thanksgiving drop took it south again.

As of today, the SMA sits at 1212.76 and the EMA at 1210.30.  I would very much like to see price bump the underside of the MA before taking the “Swann” dive.

88wMAs

Confluence of Positive Technical Factors (by Mike Paulenoff)

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Our cycle work in the S&P 500 indicates that we are near the timeframe for the establishment of a small cycle low due on November 30 (+/- 2 days). A small cycle is 20-25 days, and lies within the larger, overriding cycle of 70-75 days. Accordingly, we find that the S&P 500 on Monday and last Friday hit a corrective low at 1158.67/66, and since then has pivoted to the upside into Tuesday's high at 1203.67 (so far).

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GS About to Start Wave 3 (by Leaf_West)

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Because I know Tim is a big supporter of EWT, I thought I would put up a post on GS …

I'm long GS and I am watching here as the stock looks like it has completed a Wave 2 retracement, and is about to start a 3rd wave push higher …

GS 10-Minute Charts

GS_Nov 29, 2011_10min_01

Wave 2 pull-backs are very emotional as buyers and sellers battle it out … they typically end at the 78.6% Fib level as GS just did .

GS_Nov 29, 2011_10min_02

The 2nd wave ended right in the projected target zone and is now on the cusp of breaking a down trend line.

GS 60-Minute Chart

GS_Nov 29, 2011_60min_01

It has to be determined whether or not the 3rd wave is just that …  a 3rd wave in a corrective bounce, or whether it leads to a 5th wave push higher.  We can figure that out when the 3rd wave is over and the pull-back begins.

Here is the Contraction Pattern I am hawking right now … it looks like it is going to pull-back before breaking the move higher.

GS 3-Minute Chart

GS_Nov 29, 2011_3min_01

Cheers … Leaf_West (please visit me at my blog (http://blog.tradingwithleafwest.com/)

EUR/USD – from Hero to Goat (by Piker Trader)

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Yesterday's price action was lot of bark and not to much bite.  After opening up 3 points on SPY and 30 on ES  the bulls failed to grab any momentum and they let the market drift lower before the PPT or whoever came in and pushed the market up. 

Once again the market was lead by some B.S Europe bailout rumor.  This sent the EUR/USD shooting up on Sunday night and everything followed through after it. But just like all the other rumor fake outs this one was short-lived. The length of these bailout rumor rallies have been getting shorter and shorter.

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