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.

GLD: Thou Shalt Not Bounce (Yet)

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GLD.  That gold and the dollar are inversely correlated has been known and is supported by economic theory (bleh…ghey?).  Below is a bar chart of GLD, with the $USD in black.  I drew a purple line at the bottom end of the volume pole, falling through which could be achieved readily.  The blue line is an interesting trend on the dollar that I chanced upon. (more…)


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0613-escaledWell, wouldn’t you know it? The moment I’m starting to really enjoy trading again, along comes the biggest up day of the year. A major reversal in the ES and the NQ, apparently prompted by little more than the fact that the Japanese Yen stopped gaining value. Incredible.

The area around 1600 is representing very firm support for the market right now. That was our “breakout” area weeks ago, and twice now we’ve challenged the same zone, confirming it as support both times. What’s especially interesting about this level is that it also coincides with the ascending supporting trendline of the channel I’ve drawn. If, God willing, the ES breaks 1600 and can actually stay beneath it, that suggests a pretty important violation of support. But it hasn’t happened yet, so the support stands. (more…)