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.

Crude’s Decision Point

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The rally in crude oil has been impressive, but context is important. Let’s take a look at the past month on an hourly bar basis:

0213-clAs you can see, crude has had three rallies this month, and the peaks (circled in red) have been a little lower each time. I would suggest that this time is no different, and unless we bolt above $54.33, this is probably just another countertrend rally in the context of an ongoing bear market in energy.

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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