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.

USD/Euro to Be the 4th Horseman?

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I find the previous two monthly charts of USD and Euro to be of such great interest that they could well be assigned the designation of Amigo #4. But that would screw up a perfectly good (and goofy) theme.

I could shoe horn them in as the 4th Horseman (thought I forgot about this theme, did you?) but the 4th rider was to be the Gold/Silver Ratio (GSR). We’ll see on that, because the GSR has been a dysfunctional indicator for so long now.* USD & Euro may yet be the 4th Horseman of the Apocalypse to help bring on the pain after the happy go lucky goofballs above finish up. (more…)

… And To Finish Monsieur, A Wafer Thin Triangle

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I said on my twitter this morning near the open that both ES and NQ had formed bullish triangles that should at minimum deliver full retests of the all time highs on both in the near future. ES did a new all time high this morning and NQ has now scraped a new ATH by a tick this afternoon. Those are the minimum targets made and we could see a reversal here, though obviously we may not, and historically even if we do, significant declines on Friday afternoons are a rarity.

I have a quick look at how these triangles tend to behave on the video below and would also note that these triangle thrusts tend to be termination moves, and if that is the case here, then after the triangle thrust is retraced, ES and NQ are likely to continue down into what might at least be a retracement that lasts more than a day. Who knows, or dares to dream, or can even remember what such a retracement might look like? 🙂 (more…)