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.

Inverse Drumbeat for Yield and Gold

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A combination of factors — oil & copper prices, sluggish wage growth, weakness in equities today — are pressuring 10-year Yield, which is now at 1.93%, or 10 bps below Friday’s Jobs Report recovery high.

Only a sharp rally above 2.03% will argue technically that Yield has put in a meaningful bottom in and around the 1.90% area.

Conversely, Gold, it is acting extremely well, given the constant headwind of a rising US Dollar (DXY) and otherwise growing deflationary perceptions.

Something is going on in the Gold market that is grinding it higher in an impressive display of relative strength.

My next optimal target zone is $1240-$1244. Key near-term support rests at $1218.00.

Originally published on MPTrader.com.

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Mixed Signals and Oil Break

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The bulls had a very bad day yesterday, and on the daily chart there was a conviction break below the 50 DMA and the middle band, as well as breaks of lesser support at the 100 DMA and already broken rising wedge support. Generally speaking after a break of this kind I’d be looking for a touch of the daily lower band before another break back over the middle band, and if we are to see that then that is currently at 1975, just above the December low (and double top support) at 1972. SPX daily chart:

150113 SPX Daily Rising Wedge and SR Levels

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Targeted Capital Explained

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First and foremost I want to thank Tim for allowing me to write a post about my book Targeted Capital: The Art Of Low Risk High Reward Trading.  Second, I want to thank the Slope community as a whole; so far the reception of the book has been nothing short of overwhelming.  Thank you so incredibly much.

Targeted Capital Amazon Cover (1)

I wanted to quickly spell out what Targeted Capital contains for those who might be interested in picking up a copy of the book.  I truly think Targeted Capital contains relevant information for all traders no matter what their style, market, or preferred timeframe of trading is.  However, the last thing I would want is for someone to purchase a copy and find that it is totally irrelevant to their style of trading.  Here is what the book contains.

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Look Out Above

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Just a heads up on what I’m seeing in gold right now via the GLD ETF.  The charts speak for themselves.

4yr view

011115 - GLD 4yrs

1yr 3mo view

011115 - GLD 1yr3mo

Obviously, I’m not suggested a straight up moonshot, the line is just a target off the Inverse Head & Shoulders pattern.  I don’t think they really mean anything as far as a target goes, but it does show a reversal of supply/demand in play which will lead to further short-covering.