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.

A Focus on Energy

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What I had planned on doing this afternoon was a post of about a dozen terrific energy-related stocks that are good short candidates, but ProphetCharts is almost unusable at the moment. I only managed to get one chart out of it before it stopped fetching them. I sometimes feel like I’ve allowed my child to be adopted, and when I run into the youngster a few years later, it’s become a juvenile delinquent. Sad.

Anyway, the one chart I managed to fetch before ProphetCharts starting puking all over its data servers was Energen, shown below. It’s very typical of energy stocks these days:

(a) a former smooth run-up;
(b) a clean series of lower highs, separated by violent V-shaped recoveries
(c) its current price is, shall we say, lofty in relation to its history as a whole.



Rising Wedges Turned Channels

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The bulls delivered a strong confirming daily candle and tested the daily upper band on SPX yesterday. The good news for bears is that 60min sell signals have now fixed on ES, NQ and TF, with all of them looking close to starting a decent retracement. The bad news for bears is that if seen at all, the low on that retracement is most likely a strong buy, as the technical picture has now shifted heavily in favor of the bulls. I’ll explain why below.

I’ll start with the most bear friendly of the daily charts. On RUT the obvious next target is a retest of the current swing high, though the limited retracement seen so far would suggest that retest should be the second high of a double top before a larger retracement. On the TF chart there is an open IHS target at the retest of the current swing high. RUT daily chart: (more…)