The weekly chart of the HUI Gold Bugs index asks a question we have been reviewing in NFTRH for some time now; is the bottoming situation implied by the up-triggered weekly MACD (and confirming TRIX) a ‘W’ bottom in the making that saw its low at 206? Or is it an Inverted Head & Shoulders (IHS), that would theoretically make a final washout below 170 as a ‘Head’ is formed? (more…)
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.
I recently received – and read – two books from a fellow who has been a Sloper, TastyTrader, and all around good guy for years: Tony Rihan. Tony has a special place in my heart, because he has historically kept me well-supplied with packages of chocolate that he has sent to me. More recently, though, he completed two self-published books – How I Learned to Trade like Tom Sosnoff and Tony Battista: Book One, Trade Mechanics (Volume 1) and How I Learned to trade like Tom Sosnoff and Tony Battista: Book Two. Advanced Strategies and Insights (Volume 2) (Tom Sosnoff and Tony Battista are, by the way, the two most prominent hosts on the TastyTrade network, on which I have a daily segment). (more…)
I always like to emphasize the short setups for Fridays, as I tend to focus more on the long setups throughout the week (unless we are in a bearish market of course).
The price action seems eerily similar to what we saw on 8/1 and 8/2 and if that is the case, and the price action continues a long that path, we could see a new dose of selling, which would make the shorts below ideal for starting positions in. (more…)