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.

Choose Your Side

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Now that the Greek PSI nonsense is behind us (rolls eyes), the event-of-events is the jobs report Friday morning. Even if I knew precisely what the data was going to be, I wouldn't know what to do with it. A blowout huge jobs report could, on the one hand, cause the market to soar because of the recovering economy and could, just as easily, crash the market since it would make the prospect for QE3 even more remote. Or we could see both reactions within the first fifteen minutes of the report's release.

I intended to share an event split of bullish and bearish index charts, but I had a lot easier time finding bearish ones (imagine that!) Let's start off with some bullish arguments.

First up in the NASDAQ composite, which has done a yeoman's job staying above its breakout level of about 2890. Even during Tuesday's plunge, the index didn't even come close to threatening to pushing below that level. The breakout implies a rise to over 3,100.

0308-bull1

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Told You So (by BBFinance)

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Pardon me for saying that. But I have been writing for the last few days not to short the market and that whipsaw is expected. I wrote that such a strong up-trend will not turn on a dime and it will re-test the highs. So it did yesterday and today. I think it will make one last effort to break the 1378 mark and then roll over. For the bears, the good news is the previous high has not been broken and we are on track for 1-2-3 trend change. By the way, the cycle high was between March 6-9. So tomorrow may be the ultimate fade date.

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