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.

Trendline Nails Euro to the Pip

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It's been a dynamic, exciting morning.

My newfound affection for miners has been serving me well. I'm long a variety of precious metals miners and other resource companies, and I'm intending to hang on to all things GDX-related until it reaches my target of approximately 49.17

My biggest short, the FXE, finally turned positive with the strong ISM report. The trendline did an amazing job of nailing the top.

0501-euro

Mayday (by Springheel Jack)

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Dark rumblings around the blogosphere this morning as many seem to think that we will see more weakness. That's possible of course, and is made more likely by the lack of a strong bounce either at the lows yesterday or overnight, but overall this is a strong bullish setup with very well defined support at yesterday's lows on SPX. I'll explain why. 

Obviously on the SPX 60min chart I was talking about a possible retest of the double or W bottom neckline yesterday and we saw that at the lows. A break down with any conviction from those lows would seriously weaken this strong bull setup but until we see that, it remains a strong bull setup. If we do see that break then I am thinking we may have a broadening formation forming that would suggest a move back to test 1358 area support, so bulls would then have cause for alarm:

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