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.

Noli Illegitemi Carborundum

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I’m having a theme of latin post titles so far this week, though I’m sure that some of you will know that unlike the last two, the sentence I’m using as the title today is joke latin rather than the real variety, and I’m using it as a description of what we have been seeing on equities here as bears waste their window of opportunity to deliver a correction in price here rather than just a correction in time.

It has been a while since I last posted here the bonus charts that I do every day for Daily Video Service subscribers at theartofchart.net on various futures every night (with update notes before the RTH open the next day). Given that equities seem so determined to be boring here, this is a good opportunity to show how interesting everything else is looking. I’ve added the overnight updates as well.

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Semiconductor Sector, Updated

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We have been using the Semis as a one of several economic signposts, and as an investment/trading destination since the Semi Equipment ‘bookings’ category in the Book-to-Bill ratio began to ramp up several months ago. But those who say that Semiconductors are subject to pricing pressures are correct. It is a segment in which people need to be discrete with their investments. NFTRH 410 updated some details about this market leader.

sox vs. ndx

sox vs. spx

Semiconductor Sector

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Tempus Fugit

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Apologies for the very late post. I’m reorganising my schedule to make it easier to get these posts out before the market opens, which I’m hoping will make keeping up with everything easier.

Another painfully slow afternoon on SPX, and the window to see a decent decline here is grinding by. So far SPX is holding the 50 hour MA at 2179/80 as resistance, and the close today was below the daily middle band at 2179, so yesterday’s minor break above was negated. The downside scenario hasn’t been killed off by bullishness yet, but I’m concerned that time is running out. SPX 60min chart:

160830 SPX 60min

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Gold Miners Enter Fertile Corrective Buy Zone

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During the past two weeks, or so, Market Vectors Gold Miners ETF (GDX) has declined about 16%. That said, however, the weakness represents a relatively shallow 27% correction of the entire Jan-Aug bull leg from 12.40 to 31.79. The weakness has pressed GDX into a significant support plateau between 27.80 down to 24.00, with my optimal, corrective-target price in the vicinity of 25.85, from where I am looking for renewed buying interest and a technical, upside-reversal signal that alerts us to the conclusion of the corrective period and the initiation of a second upleg in the new bull market in GDX.

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Originally published on MPTrader.com.