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.

Working Title

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I mentioned the somewhat bearish opening setup on SPX/ES yesterday morning and that’s still looking somewhat bearish. On the bear side on SPX, though the hourly RSI 5 sell signal has now reached target, a small double top has broken down with a target in the 2276/7 area and that could be the target today. On the bull side though …….

Stan & I are starting work on the book we are writing and Stan and I both have a few pattern setups to name as we write them up for the book. One of those for me is double tops and H&S reversal patterns that break support and then fail into trend continuation. These tend to fail hard into a high probability target at the top of the failed pattern (at highs, vice-versa at lows). These happen a lot and longer term readers will recall me mentioning these many times over the last few years. My working title for these as continuation patterns is a ‘Jack In The Box’ Continuation. We may well have one of those here and, if so, that would set up the full all time high retest that we are expecting this week.

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Are You Still Waiting for a Metals Pullback?

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As the majority of the metals market seems to be awaiting a “pullback,” the metals market, like the equity market, has been quite stingy.  But, as I noted in my mid-week update, “by no means am I going to say that I “expect” more of a pullback to be seen, as the minimal number of waves are in place right now to support a break out in the complex within the next few trading days.”  I am still of the same perspective.

On Friday, I did an interview for a financial show, and prior to that interview, the interviewer me told me that most of their guests, who are normally bullish the metals complex, do not think that the metals are going to be breaking out anytime soon.  In fact, he was quite surprised when I explained to him that I see a set-up which can ignite a strong rally in the metals complex at any time now.

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