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.

Binary Setup on Cycle Trend Day

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SPX has been compressing for a few days now and we are going to see a move very shortly. I’m leaning long for that move but it’s possible both that any new high will be marginal, on the possible rising wedge option, or we may go straight down through support, on the double top option. Only if bulls can convert possible wedge resistance into support does the IHS target open up as a target, and even then there is significant resistance both at the daily middle band in the 1930 area, and possible channel resistance in the 1940 area. SPX 15min chart:

160129 SPX 15min Binary Options

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Banzai!

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I’ll make this quick, since the ol’ laptop is almost out of juice anyway. I’ve been watching with fascination what’s been going on with the Yen tonight. My stomach was in knots as Kuroda’s time approached, and I groaned to watch the USD/JPY roar higher and drag the ES along with it, ripping it around 22 points higher. Even the NQ, which had been deeply red thanks to Amazon exploded into the green. I was bracing myself for a rough Friday.

Well, who knows what I’ll be looking at when I wake up Friday morning, but for now, I’m a little less worried than before.

0129-kuroda

As I type this (and it hasn’t even been an hour since the news of NEGATIVE interest rates in Japan broke), almost the entire ES rally is gone, and the Nikkei went from the 18,000s to the 16,000s within the span of minutes. This is the kind of mayhem that Central Banker government bureaucrats can inflict on the “market.”

I’m not resting easy yet, but there’s hope. See you in the morning. (Late Nite Update: I can see the ES and NQ have bounced once again well into the green, following the USD/JPY. Friday should be interesting, to say the least.)