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.

The Musky Sun

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I’m going to leave general market commentary until after the close. The lifetime highs virtually across the board have left my face as sheet-white as Yellen’s hair.

SolarCity reports after the close today. Two things to point out: (1) it really is a terrific chart, and I imagine it’s just going to keep charging higher, benefiting partly from “the Musk Effect” of everything the man touches turning to gold; (2) strangely, in every single earnings report of its short life, SCTY has dropped the next day 100% of the time. It’s peculiar, since the stock is so strong in general, but I wanted to point out this curious fact. (more…)

Double Tops Forming

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I’ve mostly been looking at charts with double-tops forming this morning. First I’ll show the possible major double-top that may be forming on the SPX daily chart. That would trigger a target in the 1625 area on a sustained break below 1737, but in practical terms a break below strong rising support from the 1560 low, now in the 1750 area, would look extremely bearish. This is not my primary scenario here, but I’ll be considering it seriously if we should see SPX break under strong support in the 1800 area. Short term the best reversal signals on the SPX daily chart are from divergences on the RSI 5, and we have a bearish negative RSI 5 divergence forming there now. SPX daily chart: (more…)