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.

Break, For God’s Sake

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Early this week, on Monday morning, the market was melting like an ice cream cone on a summer’s day. It was glorious. Of course, that only lasted for a couple of hours. I had forgotten what that feeling was like, though – – where stock prices just slip without any bids. But as the chart below illustrates, there’s a reason such a feeling is as rare as hen’s teeth: the last time the market had honest-to-God weakness was nearly three years ago; as the exponential moving averages (in this case, on the S&P 500) illustrates, it’s just been a steady drift higher.

0502-exponential (more…)

TGI Friday

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A key target for bulls yesterday was to break up from the falling megaphone on NDX, and they did that. As long as NDX can hold above broken megaphone resistance that is a bullish break with a target back at the 3717.36 high. If NDX breaks back below broken megaphone support then that would raise a possibility that this break may be a bearish overthrow with an ultimate target in the 3000-3100 area, so I’ll be watching that trendline carefully. NDX 60min chart:

140502 NDX 60min Falling Megaphone Broken Up