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.

What Now for Oil, Up 19% Off Aug Pullback Low?

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Look! Oil has climbed above its June-Aug resistance line at $46.10, and at today’s high of $46.46, has climbed 19% off of its Aug 3 corrective low of $39.19.

More importantly perhaps, is that the structure of the Aug upmove exhibits bullish form, which “warns” us that the strength represents the initiation of a new advance within the larger intermediate-term recovery from the Feb low at $26.05, and projects to a minimum upside target of $55.00 in the weeks ahead.

Any forthcoming “digestion weakness” should find strong support at $44.60 to $43.20 prior to a resumption of the move to $55.


Originally published on

Will the 5th Wave in S&P500 Happen?

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Today we sold off into the 4pm EST close at 2175ES (E-mini S&P500 Futures) as we had into Fed minutes for tomorrow Wednesday at 2pm. That’s the first time in a while where we ended the day at the lows.

Is that a bearish sign? And what happens next?

Well, if what happened today is a 4th wave, then it’s possible to have an a-b-c 5th wave up according to the red line.



But For the Grace of God

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Anyone who reads the news is exposed to death, both natural and accidental, every day. Proximity and familiarity, I believe, are directly related to death’s impact on our emotions. When nearly a quarter million people were killed in the Christmas 2004 tidal wave, I confess, I felt absolutely nothing. It might as well have happened on Planet Zutron in the Xerex system. Part of it, too, stems from the old saw that “One death is a tragedy, a million deaths is a statistic.”

I was, however, deeply troubled when I saw this on the front page of the morning paper: