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.

NFTRH 307 Excerpt; Currencies

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NFTRH has been bullish the USD and bearish the Euro, Canada dollar and Aussie dollar for quite some time now, most often using this simple weekly chart of various currencies. Months ago we noted USD creeping out of its downtrend (green dotted line) and the Euro falling out of its wedge (red dotted line). Back then, sentiment toward the USD was far different than it is today. So this week the Currency segment included some thoughts (and data) on USD and Euro sentiment as well.

Also of note, while the excerpt speculates that a USD reversal could trigger bounces in commodities and precious metals, these items generally remain bearish until proven otherwise. Not the other way around. (more…)

That Dreadful Email

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I have zero interest in sports, and even less in rich owners of sports franchises. However, I’m a freak, so my fellow Americans have been all up in arms about the latest rich guy wanting to sell his team (at the top of the market, I imagine) as compensation for his earlier politically incorrect sins.

I looked at his email, and in spite of my aforementioned disinterest, I must agree the email is appalling and embarrassing. Shame on Mr. Levenson! Specifically………..

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I could go on, since the email is pages long, but you get the idea. I think the nation’s outrage is absolutely spot-on.

At Night All Swans Are Grey

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I called the intraday turns on Friday very well, but was struggling to believe what I was seeing. The double top target at 1985 wasn’t made, with a failure at 1990 and a push up to close back at 2007. If we are to make a new high now from that low then that would be unprecedented among the eleven RSI 5 / NYMO daily sell signals going back to the start of 2012.

Looking back further however then there is one precedent for that among the twenty four signals going back to the start of 2007, and it’s not encouraging. That signal didn’t fail, by which I mean it didn’t go as high as the highest RSI 5 peak generating the sell signal, but SPX ran up almost another 4% before making the 2010 spring high. In this case the previous RSI 5 high is lower, but if that held again here SPX might still make it to the daily and weekly upper bands, both currently in the 2030 area, and possibly a bit higher. (more…)

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