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.

New Digital Digs

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The Google problem I was trying to resolve on Friday was trying to renew my primary domain at www.channelsandpatterns.com. That attempt was unsuccessful and the domain expired on Saturday. The domain now spends a few days in digital limbo where I can still renew it if Google astonish me by sorting out the problem successfully. In the meantime I have moved the blog to www.channelsandpatterns.net which, needless to say, isn’t registered with Google. More out of optimism than any kind of faith I am giving Google this week to get their act together before moving my Disqus comments over to the new domain, so for this week comments will need to be on my twitter.

ES broke down from the bull flag channel at the open last night which opened up the downside today, and the obvious support not far below at the time of writing is the backtest of the daily middle band at 2272 (approx 2267/8 on ES). SPX daily chart:

170130 SPX Daily

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Breakout Test

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Good morning, everyone. Well, quite a weekend, wasn’t it? I’m glad I wasn’t traveling by plane. Are people really this surprised that Trump actually is doing what he said he was going to do? I guess the nation is too accustomed to politicians……….actual politicians………like ol’ Hillary and assume that campaign promises are merely for the election season and don’t really mean anything. All I can say for those who are freaked out by just a single week of this man’s tenure…..it’s going to get wayyyyyyyyyy worse.

The silver lining, of course, is that he could completely wreck the equity markets while doing so, and this morning we’re off to a bit of progress. It won’t really count, however, until and unless we break beneath the green tinted area I’ve shown below. At this point, we’re simply retracing the big breakout from last week, which the 20k-obsessed media was celebrating.

0130-es

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Sunday Funnies

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There’s not much going on the world right now (except for “lawyers rushing to airports” – yes, I just read that in an article) so I thought I’d just share a few words on this lazy Sunday about the historic breakout above 20,000 last week, particularly in the context of momentum.

I offer to you the chart below, which is the Dow Jones Composite. As can be seen with the magenta tint, the index spend years forming a basing pattern. It began on the left with the “ichthus” pattern , and it finally broken above resistance after the election.

0129-compo

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