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.

Topping is a Process

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There was much talk on Friday about how the strong bounce from 1539 SPX was a sign that this market just can’t go down etc etc etc. Obviously that’s rubbish, and the reversal was an almost exact reversal at the candidate H&S neckline that I’ve been looking at for the last few days. Encouragingly for the bear side, and as I also mentioned, the low broke the rising channel on SPX from the November low, so that is no longer support for this move from there. On the SPX 60min chart the next obvious moves are, as I posted on twitter on Friday, either to make an H&S right shoulder with an ideal high in the 1562.5 area (preferred option) or to retest the high and possibly push a little further to test or slightly exceed 1576 to make the second high of a double top. Either way the pattern downside target would be in the 1505 area:

130408 SPX 60min Rising Channel Broken

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Unprecedented

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It’s not that big a surprise in this disgustingly Bernanke-manipulated market, but there is yet another Never Seen Before Ever for me to show you. Observe the S&P e-mini:

0406-neverbefore

Notice anything interesting? Yep, it alternates. And it’s been doing so for 15 days.

The odds of this happening in a random environment (say, a coin toss) are, I believe, one in 16,384. I am not a math guy, so I’m assuming the odds are 1 to 2 to the 14th power. And if I’m wrong, and you’re right, well, bite me, because I’ve still got a full head of hair.

Money Flow for April Week One

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Further to my last Weekly Market Update, this week’s update will look at:

  • 6 Major Indices
  • 9 Major Sectors
  • Germany, France, and the PIIGS Indices
  • Emerging Markets ETF (EEM) and BRIC Indices & ETF (BKF)
  • Canadian, Japanese, British, Australian, and World Markets Indices
  • Commodities ETF (DBC), Agricultural ETF (DBA), Gold, Oil, Copper & Silver
  • Major Currencies
  • Comparison of SPX, Gold, USD & USB
  • Comparison of SPX, CRX, USD & USB

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