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.

Help!

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No, this isn’t a plea for the market to stop going up. It’s more useful than that.

One of you helpfully suggested that, with the growing SlopeCharts list of technical indicators, some instructional information might be helpful. OK, done! Now there is a Help button on every tab related to studies, and clicking it will bring up a new page describing the study and how it is used.

And, hey, if you want to give me something to be thankful for on Thursday, I’d like to see you using SlopeCharts. It’s a dynamite product, it’s free, and hey, there aren’t even ads on the page!

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The Falling Megaphone on RUT

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A very key pattern that I’ve been watching here for direction is the likely falling megaphone on RUT.This has been a slow developer and has now been forming for an impressive seven weeks. Assuming that this is indeed a falling megaphone then the next target within the megaphone is megaphone resistance, now in the 1511 area, with the main remaining obstacle on the way at the monthly pivot, at 1500 even and tested at the highs today.

Assuming that this is that falling megaphone, then that falling megaphone is a high probability bull flag pattern, and when that breaks up the minimum target will be a retest of the all time high at 1514.4.If that retest can be kept to a marginal higher high then that is the bears’ next decent shot at a larger retracement, though seasonality makes it questionable that we would see that retracement in what remains of 2017. RUT 60min chart: (more…)