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.
Bank of America is the 3rd bank I have heard about this week that has experienced lower mortgage origination revenues. Makes sense, with the climb in mortgage rates. Yet BAC had better than expected results due in part to fixed income trading revenue. What, gaming the credit markets? That sure is productive for America. (more…)
At the risk of producing another “occasional winner” (thanks, Northman) may I present to you Restoration Hardware, purveyor of overpriced furnishings. I think this one’s in trouble, folks.
Here’s are today’s trade setups:
Long KLA-Tencor (KLA)
Note: when a gauge shows 0% daily odds it means the price is already moving in that direction. We gauge the ODDS to have a TREND REVERSAL, so if the market is going up the odds to have a LONG trend reversal are ZERO% because it is already an uptrend. On the other hand, if the market was going down, then we will have x% odds of having a LONG trend reversal at specific price levels. (more…)
There was a new high on SPX yesterday so, poor quality though Monday’s low was, the final move up to my wedge target at 1965 may now be starting. That was the rising wedge target I gave on 30th June and you can see that post here. The failure to hit rising support from the 1646 low however leaves open the possibility that the 1815 low might be retested over the next few days and that should be borne in mind. There is also a possible double-top in play now targeting the 1780 area on a break below 1815, but I’ll only be considering that seriously on a break below Monday’s low. SPX daily chart: (more…)