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.

WTI Climbs Ahead of the OPEC Meeting

By -

The Feb-Mar Oil advance from 26.05 to 41.90 inflicted important and consequential damage to the intermediate-term downtrend from the June 2014 high at 107.73 when the price structure thrust above 35.00 on April 4.

Weakness off of the March high successfully tested the April 4 breakout level last week, after which Oil pivoted to the upside from 35.24 to last Friday’s (Apr 8) close at 39.66.

Renewed strength comes amid ongoing debate about still-massive excess supply, still-worrisome over-production, and doubts about the resolve of OPEC and Non-OPEC producers to freeze output at the forthcoming Doha Meeting on April 17. (more…)

“Bearing” in Mind (by Bob Kudla)

By -

We are ready to enter into a 7 week weak period if you give credence to the cycles of the market.  Presidential election years have a rhythm, and it is telling us to short this market until mid June.  Take some summer profits and short this sucker again, and this year could be a doozy (spell check wanted me to replace with boozy, hmm) as it is the weakest start of a presidential cycle in a long time.

(more…)

Daily Middle Band Support

By -

On Thursday and Friday there was an impressive battle at daily middle band support on both SPX and RUT. At the close on Friday the bulls had still not conceded the daily middle band, and if that isn’t going to break then the next obvious target would be the daily upper band currently in the 2076 area. On a move higher there are still open and obvious targets at the IHS target at 2082 and declining resistance from the 2015 high, currently in the 2090-2 area and a decent looking match with possible trendline resistance and the 200dma on RUT, currently both in the 1135 area.

(more…)