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.
Back when people thought the hostilities in the Ukraine would matter (ha! ha ha!) commodities skyrocketed. Well, the descending trendline that has been in place for a decade did a yeoman’s job of nailing the precise top. Back down we go……….
For me, the one thing that upgraded this day from Wretched to simply Bad was my short position in gold (in one account, I had the entire balance dedicated to being short GLD). I’ve been waiting weeks for this thing to finally break its triangle. It has, at long last, and I am hoping much lower prices are on the horizon.
Here’s today’s swing-trading watch-list:
Long Hewlett-Packard (HPQ)
Today we should get the answer to the question whether SPX is breaking up towards the next upside targets, or will fail at the retest of the 1902 high. Early indications favor the bulls so far and I’ll be watching this rising megaphone that I posted on Thursday night to see whether it breaks up, very possibly at the open. If it does, and the gap doesn’t fill, then that should be a bullish breakaway gap. SPX 15min chart: