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.

More Volatility Ahead for Italy’s FTSE MIB Index

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Italy’s FTSE MIB Index still remains more than 60% below its record high reached pre-2007 financial crisis, as shown on the monthly chart below.

It’s facing major overhead resistance with the convergence of a triple top price formation, 40% Fibonacci retracement level, and the lower edge of its original uptrending channel around 24,568, which is still a long way above its current price, but which may act as a depressant and contribute to volatile swings until it eventually retests that level and either breaks and holds above, or is rejected.

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The Thin End Of The Wedge

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On the video today the first bit where I was looking at the action so far as a likely bull flag that should deliver a retest of the HOD is now obviously out of date, as the flag then broke up and made target, and we have a new HOD. That was unfortunately only of use to subscribers watching the video being recorded live, or on the subscriber twitter feed where I posted the full version soon afterwards. The shorter version takes a bit longer to produce.

For the rest of the video I am considering the case for a possible high being made here in the 2737.25 to 2741 area on ES and we are in that inflection point now. If we see a hard fail here we are looking for new 2018 lows at minimum. If we see a break up instead then we should see ES reach the 2780s next. Intraday Video from theartofchart.net – Update on ES, NQ and TF:

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One Month Hence

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The inability of the stock market to hold a downtrend more than two days is driving me insane (again). It has been two years since there has even been a drop off lasting a couple of weeks.

It was just a month ago that we were in the throes of an all-too-brief bout of excitement. But, looking back, it’s evident that 90% of the move was confined to just two trading sessions. Yep. That was it. For two years of waiting, we got just two days of glory. The next morning was a panic low, and bang, we were back into the unending quagmire.

panicbot (more…)

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