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.
This is not a top call. My target was Dow 21,000 and this pig blew through it and flew to 21,115. This is a comparison of one bubble to
another a potential other.
In 2011 silver put on an amazing run. First, it dropped and crashed the SMA 50 at the beginning of the year. Then it rebounded, became over bought by RSI (and distance from the SMA 50), tested the short-term EMA 20 and then went all Sky Lab, making a 2nd strenuously overbought reading on RSI. Then… kerplunk.
Apologies for the erratic posts this week, which has been very busy and I’m somewhat short on sleep. Just covering SPX today as I have to head out shortly.
Impressive trend day up on SPX yesterday and the high has established a decent quality possible rising wedge trendline from the November low. If so SPX is topping out here short term and I’d expect at least a retest of 50 hour MA support in the near future. That’s currently in the 2369 area. I was thinking a retest of the high first was likely but so far it’s possible that SPX is trending down today, and on a break under 2380 we might see that test today. SPX 60min chart: