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.

The 5dma Three Day Rule – Day Three

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Today is Day Three on the 5dma Three Day Rule and SPX is testing important resistance on a lot of negative divergence, with an RSI 5 sell signal brewing on the hourly chart. There are also 60min RSI 14 sell signals fixed on ES and TF, with another brewing on NQ. This test of the daily middle band may well be the last really decent chance for bears this week, and what they need to do is reject from the daily middle band at 2364/5 and close enough below it to break the 5dma at 2354/5. This is a nice setup and that could happen. The bulls need a close above the daily middle band ideally, and a close on or above the 5dma at minimum. SPX daily 5dma chart:

170330 SPX Daily 5dma

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Gappers Gonna Gap

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Just a quick post to point out that stocks that tend to have huge surprise gaps in the past tend to do so in the future. An organization like lululemon can’t seem to avoid shocking analysts in both directions. Here in Palo Alto, their main problem is the same group of obese women keep strolling in and stealing thousands of dollars worth of their merchandise before their open-minded security guard dares to challenge them. Anyway.

0330-lulu

Going for Gold

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Just as I was mystified last week that anybody believed the TrumpCare bill would pass, I’m equally mystified to read people touting precious metals miners as a “buy” these days. I think gold, and the miners in particular, are in trouble. I remain very long JDST, and I’ve been yammering to my Slope Plus readers about metals quite a lot lately. As long as the Japanese Yen more or less continues to weaken, I think gold bears will be rewarded.

0330-gc