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.
As We Enter Our 8th Year of Quixotic Valor
About That Window Dressing…….
Confused Yet? & AUDUSD (by Springheel Jack)
I have a provisional overall scenario for the next month or two that I'm expecting to play out. Obviously I may be mistaken, but it hangs together fairly well. On equities I think we are in a sideways type wave 4, which will be followed by a wave 5 up that will probably peak at a major pivot, either at 1442 SPX or slightly north of 1500. Given the proximity of 1442 SPX to where we are now there's a better argument for the higher target I think. That should take us into the seasonal high area late April to sometime in May. After that I'm expecting a big correction over the summer and we'll see what the bears can do with that, if any have survived this monster move up.
While that plays out I would expect new rally highs on EURUSD, and a major drop in bonds. As long as USD can hold uptrend support during that time, I then have a hugely bullish overall setup on USD that could see it spike up to over 90 while EURUSD gets crushed over months following.
Short term I'm a bit concerned by the support break on Dow yesterday, but it didn't last long and the recovery was strong. It is a warning signal though, and should we see a more definite break then there will be an argument that we have already made a major interim top:
