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.

Aces and Eights

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SPX and NDX made new all time highs on Friday, and the minimum requirement that we were looking for in the high that is forming here has been met. There is a setup for sharp retracement from here, though it’s very much still in the inflection point still, and I’ll be showing you on the last chart why I think the setup favors the bulls, though it could very much go either way.

On the SPX chart there is now a daily RSI 14 sell signal brewing, with NYMO divergence and SPX close to rising wedge resistance. SPX daily chart:

170108 SPX Daily

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Crude’s Tight Range

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There’s not a lot going on this morning, but oil is kind of interesting, down nearly 2.5% as I’m typing this due to concerns that the U.S. producers will be ramping up their output due to stronger prices. For weeks now, oil has been in a very tight range of only about $2. The key, though, is the lower end of that range – about $52 – because, if broken, we could finally see the uptrend snapped and move back into the upper 40s, dragging energy stocks down with it.

0109-crude

Utiopia, Limited

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Greetings from my dive bar on the Google campus, where dozens of people are loudly watching a football game while I sit here – – the only one with a laptop – – nerding away. Yes, I like being different.

This is as much a comment cleaner as anything else, but I wanted to share a few words about something that’s been popping up in my social media feeds a lot lately – – The Venus Project, which is promoting what it calls “The Resource Economy”, as follows:

In a Resource Based Economy all goods and services are available to all people without the need for means of exchange such as money, credits, barter or any other means. For this to be achieved all resources must be declared as the common heritage of all Earth’s inhabitants. Equipped with the latest scientific and technological marvels mankind could reach extremely high productivity levels and create abundance of resources.

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Inaugural Thoughts

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It may seem hard to believe, but this is going to be the last full week of Obama’s presidency. After eight years (long, horrible years for the bearish set), Obama’s tenure in the White House is nearing an end. His excellency President Twitter will be sworn in (placing his hand, I suppose, on The Art of the Deal) in just a couple of Fridays. There are very few guarantees in life, but I’m pretty sure of this: this is going to be a verrrrrrrry interesting administration.

Anyway, since Trump’s inauguration is coming up, I thought I’d reflect a bit on what happened in the equity markets when Obama came into office. It’s kind of interesting (I’ve also featured two images of Obama, showing how much these two terms have aged the man).

0108-obama

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