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.

A Tale of Two Composites

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Hi, Slopers – – sorry I’ve been so quiet today. I had to get up super-early this morning to get one of my children to the airport. Frankly, I’d better get used to this new schedule, because starting next week, I get my own show on Tastytrade (that’s the good news) for which I have to be up at 4:30 every morning (that’s the not-so-good news). Anyway………

The Dow Jones Composite index fish/ichthus/Jesus pattern is still intact, although if tomorrow is anything like today, that could be over in a big hurry. For, for now, hope springs eternal in the bearish breast:

0212-comp

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Bring Out Your Dead

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I’m not well today as my daughter caught a nasty cold/flu bug at school and has successfully passed it on to me. This is a short post for today and I’ll do the same tomorrow. Looking at my daughter this week I’d expect to be largely recovered by Monday:

On the daily chart we now have a clear break over range resistance with the open this morning above that. The obvious targets now are a retest of the high at 2093.55 and the daily upper band at 2088.97, though that might well be in the same area as the all time high by the time that it is reached. SPX daily chart:

150212 SPX Daily Break over Range

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Homebuilders Sector at a Critical Level

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The following Daily chart of the Homebuilders Sector (XHB) shows, that it reached a new 3-year high today (Wednesday), but not a new closing high. However, the RSI, MACD and Stochastics indicators are not yet confirming a move higher. Note the high volume activity since the beginning of this year…signalling major rotation in and out of this sector, perhaps, in readiness for a big move one way or the other.

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Morning Musk

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Over the past year, I have done six different posts about shorting Tesla, largely based out of my frustration that they remain a “one product company” whose Model X (on which I am 20,000 who has a deposit) has been endlessly delayed. The company peaked last September, falling from nearly $300 to $212.80 yesterday. Now that earnings are out, and JP Morgan has downgraded the firm, the stop is pre-market down about 7.5%. I’m holding on to this short.

0212-tsla

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