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 Fatted Calf

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The level of bear despair yesterday was impressive, and the percentage of bulls is now 62.2%, as compared to previous highs at 61.6% at the end of 2013, 62% in October 2007, 62.9% in December 2000 and 60.8% in August 2007. All of these previous readings were signals that large rallies were ….. um …….. ending, and that significant highs were being made.

I was delighted yesterday to identify the pattern for the current move, when the low yesterday established a perfect rising channel from the last lows at 1862. This is excellent news as we now have a clear marker for when the current move is ending at the break of channel support there. That break will signal that this move is topped or topping, though a retest of the highs would be routine after such a break, so it would be important not to jump on that break too hard when it happens. SPX 5min chart: (more…)

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