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.

Buy The Dips IMO (by Springheel Jack)

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The key resistance trendlines were tested and broken yesterday, and the setup this morning looks clearly bullish.  We might see a pullback to retest broken resistance in trading hours, but on ES and NQ those retests have already happened overnight. On NQ the break up from the broadening descending wedge has been very classical with a break, the retest and move up. The pattern target is at the 2012 highs in the 2792 area and Bulkowski gives these an average 79% probability of making that target area:

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Checking on the Miners Analog

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So, where are we at with the gold miners analog?

Well, so far, the analog has been working amazingly well (for months, actually), and I'm going to suppose we're in about mid-August 2008. Here are the past and present charts.

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On a percentage basis, we fell almost exactly the same amount as in 2008, and if the analog continues to hold, we've got a bit of a bounce in the offing. Once that bounce is over – – again, assuming the analog holds – – a more severe drop is just around the corner. I've put an arrow at the spot that I think we are approximately located right now.

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