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.

Being The Second Mouse

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I mentioned in my morning video on Tuesday that Tuesday and Wednesday were both cycle trend days. That means 70% odds that the day is dominated by one side or the other, but often not an actual trend day. Both days were dominated by buyers and ES peaked at 2299.50 overnight.

Are we still going to get a backtest of the triangle? Likely not, as the thrust up yesterday was strong enough to be part of the main triangle thrust. However we are looking for a three part move here, and the first wave looks completed, with full 60min sell signals fixing on all of ES, NQ and TF overnight.

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Were There Clues To The Rally?

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Well, here we are with the S&P500 Futures approaching 2300, Nasdaq at all-time highs, Dow at 20,000, and Russell showing strength after 1.5 months of consolidation.

Were there clues?

Well, if you believe in Elliott Wave voodoo magic, we had what might be a textbook ending diagonal – (very difficult to spot while it’s forming) – that then reversed after completing.

Russell: Ending Diagonal

The Russell completed a 1-2-3-4-5 ending diagonal where each number was an a-b-c zig zag. We alerted a Buy right at the optimal point.

Dow Jones: Break of Descending Trend Line (more…)