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.

Weekly Upper Bollinger Band Punches

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I was saying last week that punches well above the weekly upper bollinger band were a rare event, and I’ve been looking more at those this morning to see what happened after previous instances. Since the start of 2006 I have only found two instances of this and these were as follows:

– Q2 Start 2007 – Continued up 80 points into early Q3 first high 2007 bull market double top
– Q2 Start 2010 – Immediately preceded spring 2010 high made next two weeks

That’s not hugely helpful in this instance so I have looked further back, but here is the SPX weekly 2006-13 chart showing those punches: (more…)

May 21st, 2013 E-mini Prep Work

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I will keep this post as brief as possible. We are still in an uptrend and no significant news reports are on the schedule today.

Support: 1660.00-1661.25, also keep in my that this zone puts into play the Value Area low at 1662.50

Midpoint: 1665.50-1666.50

Resistance: 1669.75-1670.75

Here is the chart:

may21

Very well defined range coming into today, and if the support level fails the market will want to test 1656.00. If resistance fails.. it would be making a new all time high and every moving average in the book would be up sloping.

SlopeFest V from Vegas

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Well, I felt like a complete turd-monkey for missing it, but SlopeFest V went off without a hitch. I really wish I could have been there, but two things prevented me from doing so; (1) back-to-back family obligations and (2) the complete lack of a market drop which would have caused me to cheer so lustily that I would have shucked the aformentioned obligations to join my friends. (more…)