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…)
Wow, what a difference a few days make. Should we call this latest rally the Yellen rally?
Just two days ago everyone was fearful of a decline, yet now all is forgotten. Now we can all get back to sitting back and comfortably watching the market the five year + bull market continue, right? Wrong. (more…)
All equities edition again today as I’m still not feeling that well and I’m considering options for the next short term high on SPX. There are a number of important trendlines in the same target range so I’ll go through those individually. (more…)