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.

What Cha Gonna Do? (by MoneyMiser21)

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To borrow a line from George Lucas, the Bears have a “New Hope” as the debut of the 7th Star Wars movie nears its worldwide debut.

Should the /ES (on the continuous chart) break and close beneath its November 16th low at 1998.50 on the daily chart, that price action portends a stronger move lower.

From a Fibonacci perspective the 38.2% retrace from the Nov. 3rd high to the Nov. 16th low, and following failure to retest that lower swing high before rolling over, sets us up for one of two potential patterns:

#1 – The Bat pattern (cue Adam West!) (more…)

S&P 500 Approaches Significant Support

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Friday’s weakness has pressed S&P 500 (SPX) into the 2020 area for the third time since Oct 20, which qualifies 2020 as a key, near-term support level that must contain further selling pressure to avert downside continuation towards 1950/40 next.

Will it hold?

One look at a couple of medium-term momentum gauges, and we have to view the viability of 2020 with some skepticism.

A break of 2020 does not have to happen, but the anecdotal evidence is more compelling than not—that, at this time, to refrain from adding any, new, long-side exposure in equities.


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