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.

Energizer Bunnies

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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:

170302 SPX 60min

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Print Jam

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As SNAP approaches its opening trades, which are rumored to be WAY above the offering price, I’d like to mention another “fad” stock which is my second-best performer in my portfolio: 3-D Systems, oft-mentioned here on SOH. I intend to hang on to this one, as I believe much, much lower prices are ahead. Sort of like – I dunno – companies like SNAP in a few weeks.

0302-DDD

Orange and Black

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I rarely do posts about being “done” with a trade, but I did so yesterday for Slope Plus subscribers, early in the morning, with respect to gold and miners. The 50% gain on DUST in three weeks was a great winner, and the Fibonacci retracement on GDX looked like support.

As I looked at the charts later in the day, I did feel that miners might be largely complete with their down-move, but I was having second thoughts about gold. It still seemed like it had a decent prospect of falling. This morning, that thought seems to be borne out, as we’re down nearly $12. The key to watch, however, is the $1235 (approximately) level. That would be a fairly important trendline break.

0302-gold

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