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.
We do in depth analysis on a weekly basis (and every day in-week) because there is no substitute for working to be right with the market’s evolving situation as opposed to making bias or ego stoked calls in hopes of being right.
The current situation has seen some calling ‘bullish’ on the stock market despite a still intact bear trend (noted repeatedly in NFTRH), people going bullish on commodities despite their “bounce only” (also noted repeatedly) status in the absence of real, market-based inflation signals (which I do think are coming soon) and global markets bouncing within bear trends of varying degrees.
For the third day running ES is opening up with the weekly pivot at 2050.50 and that will once again be the key battleground level today, supported by the SPX 50 hour MA at 2058.8 effectively being at the same level. On Wednesday bulls had the technical edge and dominated the day, but couldn’t hold the move. Yesterday the bears had the technical edge and dominated the day but rallied back in the last hour to close at the daily middle band on SPX, failing to break this key support level on the daily close and setting the stage for this overnight rally back to the ES weekly pivot.