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.

XLF Declining Resistance (by Springheel Jack)

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I'll do a quick extra post today as I've been having a look at XLF this morning, and there is a very important resistance test coming up shortly if XLF rallies much further. That's best seen on the daily 6yr chart and you can see that XLF hit declining resistance from the 2007 high in April this year, and has been sliding down that trendline with multiple tests ever since:

Short term XLF has put in a solid low and broken the declining channel from the October high. Main declining resistance from 2007 is in the 13.2 2 to 13.3 area now. Will XLF break up through it? Who can say? If XLF does break over that declining resistance trendline though that will look very significant, and the resistance break might have serious implications for the wider market:

We shall see. Personally I wouldn't take the view that XLF breaking up would confirm a new cyclical bull market, but I would say that in the absence of XLF breaking up through that declining resistance, any sustained move up on equities here will look doomed to fail soon.

Blessed Slopers

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Iggy, who already has set Slope agog with his Christmas-light-hanging prowess, has now undone himself. He unveiled today his own special Nativity, honoring the blessed late December event. Nicely done, Ig.


The unfortunate thing is that he was so preoccupied with his culinary hobby that he neglected to inform all the participants for Slopefest North Carolina about the date change. The Hun dutifully showed up at the originally agreed-upon time, and he wasn't happy at all about this screw-up.