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.

Building Negative Divergence

By -

SPX made a marginal new high this morning and that has somewhat changed the picture from when I was doing the charts below over the weekend. There are now fixed 60min sell signals on all of ES, NQ and TF, and while I’m still favoring a retracement and a bit higher to set up decent sell signals on the RTH 60min charts, there is now a higher risk that won’t happen, and that SPX starts the retracement I’m expecting directly from here.

There are now also fixed RSI 14 sell signals on all of the SPX, NDX and RUT 60min and 15min charts apart from the NDX 60min chart so if we see a hard support break then the main retrace may have started.

(more…)

Crude Bounces to Retracement

By -

As expected, crude has been fighting its way back, and this morning it made things easy by nailing retracement perfectly (see green tinted area). I guess the chatter about a new OPEC meeting (remember those?) gave things a boost. I’m staying at a distance, however, since I think strength to the next level higher (about $45) is still possible, as the meaningful topping pattern (magenta tint) is still one Fibonacci level higher.

0808-crude