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.

Back On The Three Day Rule

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SPX resolved higher yesterday and the cycle trend day delivered a unidirectional day dominated by the bulls, though not making any new speed records of course. Today is the other cycle trend day this week but as yesterday’s cycle trend day delivered, that less likely to deliver today, and the day has been a two way trade so far.

SPX delivered strong closing breaks above the important resistance levels yesterday and at the time of writing they are the 5dma at 2379-80, the 50 hour MA at 2387/8, and the daily middle band at 2390.

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Binge and Purge

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I remain heavily short the market, with a mere 4 of my zillions of positions still in the red (and by only a tiny amount). One of my favorite shorts is Brinker International, the company that owns purveyor of vomitous junk at Chilli’s as well as some other unfortunate venues. Here is the topping pattern:

0523-eat

Here’s a longer-term view, which includes an analogous pattern before. The symbol is EAT.

0523-eatdouble

Terror Highs

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The latest bloodthirsty attack by the religion of peace caused the ES to collapse by a tiny fraction of a percent for a couple of hours last night, but bulls seem to have a penchant for terror attacks, so all is well again. In spite of dead children and hundreds of injured innocents, the bulls are bidding up assets to prices never-before-seen.

As a chartist, I find the symmetry of these triangles rather interesting, although obviously I’d prefer we not break to the upside.

0522-es

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