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.

The Fate of Facebook’s Momentum About-Face

By -

The following monthly chart of FB shows that price has plunged to near-term support defined by its longer-term uptrend channel median and 23.6% Fibonacci retracement level (166.22).

The reversal from its all-time high made last month has been accompanied by accelerating (to the downside) Momentum (peaked in October 2017) and Rate-of-change (peaked in September 2017) technical indicators which, in fact, reversed well ahead of price.

Neither of these two indicators have broken below their respective zero levels since the early months following FB’s IPO. A drop to, and hold below, zero on this monthly timeframe on these indicators could spell serious trouble for FB in the longer term. In this regard, watch for any drop in price to, and hold below, its next support level around 148.00 (channel bottom plus 40% Fib retracement level). (more…)

Banging Bonds

By -

Mornin’, Slopers.

As I wrote earlier, yesterday was completely bizarre for me, because soaring bonds and weakening interest rates really put the chill on my day (until the end, when it all worked out). Even though, as of this moment, the ES is green (OK, just barely) and the NQ has done about a 100 point about-face from the downside, I’m just as excited about today as I was yesterday at this time, simply because my positions are so interest-dependent. It seems to me bonds are offering great respect to that trendline I’ve drawn, having bounced off it twice.

bonds (more…)