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.

Patterns & Cycles Pointing to SPX 2300 by Month End

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By Mike Paulenoff, MPTrader.com

Since I am a “pattern geek,” what is the Emini S&P 500 pattern whispering to us now? That all of the action off of the new all-time high at 2278.25 established on December 13 — exactly one month ago — is taking the form of a Bullish Coil Formation, which the vast majority of the time represents a digestion period prior to continuation in the direction of the underlying trend (up).

If such a scenario unfolds from the month-long formation, then as long as any weakness is contained above 2248.50, ES should take off to the upside, heading for a target zone of 2300/10. (more…)