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.

Watching the Dollar

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Uber-Sloper BDI wrote me to make note he was watching the US dollar most closely. I decided to take a peek at the cross-rate which has been so important to equity strength, USD/JPY, and compare it on an intraday minute bar basis to the ESM4. I’ll say two things: (a) the US Dollar does indeed seem very vulnerable to a pretty major downturn; (b) The ES has some catching-up to do on the downside! In the chart below, the ES is blue and the USD/JPY is black – oh, whoops – I mean – “a cross-rate of color.”

0506-dollar

More Proof of the End-Times

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Jesse Draper┬áis the daughter of a rich Silicon Valley venture capitalist. This is one of the three things going for her; the other two are evident in the clip below. I suppose Daddy arranged for his little princess to have a show of her own on YouTube whose clips have garnered hundreds – hundreds, I tell you! – of views (don’t be misled by the larger view count of the clip below, as it was merely highlighted by ValleyWag; recent viewers have been pointing and laughing).

The fact that a genius like Elon Musk would lower himself to talk on a “show” like this says something. I’m not sure what it says………..but it can’t be good. Although hats off to Elon for keeping eyes on top. That takes self-control. You don’t need to watch the whole thing. Just the first sixty seconds. Have a bucket ready.

Three Little Pigs

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The bears had a real shot at breaking this uptrend yesterday morning, but they blew it, as usual. That of itself would have been bullish but today is also Tuesday, and Tuesday has been up 17 of the last 19 sessions, a formidable track record. I’m leaning bullish today until demonstrated otherwise.

I’m going to keep it short as I will be doing a precious metals post three or four hours into the session and I’ll look at three US equity indices to see what they can tell us about support and resistance here.

First is NDX, where the break below broken megaphone resistance was very swiftly reversed yesterday, and unless that changes today the pattern target is a test of the 3717.36 high. Making that target should at the very least have SPX testing the 1897 high, and might carry it considerably further. NDX 60min chart: (more…)