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.
Wave Count on AAPL (by Avi Gilburt)
As I published over this weekend on ElliottWaveTrader.net and MarketWatch, our count seems to be following through quite nicely. Although we did expect more of a pullback on AAPL for its wave 2, it only provided a very small consolidation before it took off towards our next targets of 606 (1.00 extension) or 615/616 (1.236 extension).
We will then expect a pullback which should maintain support over the 597 region, especially if the 616 level is hit, and then rally again towards out next higher target region of 622-631. Ideally, AAPL should be there by the middle to the end of the month, if not higher if AAPL enters into the type of extensions that we have seen in the past.
Originally published on ElliottWaveTrader.net.
The New SocialTrade in Sixty Seconds
I’m spending part of my Independence Day jazzing up my SocialTrade videos (if you have somehow managed to miss signing up for your free account, for the love of God, please do so!) I think this video does a much nicer job of explaining what the system is all about.
Independence
Happy 4th of July, Slopers!
As I sit here in the wee hours of the morning on the Independence Day of our once-proud republic, I thought I’d share a few charts with you before I pivot 15 degrees to the left and start work on another computer where I’d like to make some new SocialTrade videos.
Although it’s a market holiday, there’s still thin trading in some commodities as well as the Euro, which is down about 0.35% as I’m typing this. When (not if) it erases all of its retarded 20th-Summit-Rally from last Friday, you can bet I’ll be talking about it.
Anyway, I’ve got videos to make, so let’s get this charts done…….
The NASDAQ Composite, shown below, is within spitting distance of its descending trendline, offering resistance. For the bulls, they need to cut through this line, but it’s going to take some pretty hearty momentum to do so, because the Euro-thrill from Friday is wearing awfully thin. The bears want to see another failure of that horizontal line and, most importantly, a break of the ascending red trendline beneath it. This index chart, as most charts are right now, is pretty much a mess.
Junior Gold Miners Catching a Bid (by Mike Paulenoff)
Could it be that finally the under-owned and despised gold miners are catching the elusive bid? Could it be that the miners finally are playing catch-up with the relative strength of bullion — in an economic environment that still requires central bank printing presses to work 24/7 to elicit a glimmer of growth?
Although the Market Vectors Junior Gold Miners ETF (GDXJ) must hurdle and sustain above heavy resistance between 20.50 and 21.55 to confirm that a major bottom has been established, the May-June basing action has the right look of something "special" in its early stages.
Originally published on MPTrader.com.
