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 Blue Pill

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Stan and I are doing our monthly free public Chart Chat on Sunday covering the usual 40 or so instruments over most major markets. If you’d like to attend you can register for that on our March Free Webinars page.

ES gapped up over resistance on the NFP numbers this morning, and we are running the second option that I was looking at on the intraday video yesterday. ES is likely to hit the rising channel resistance I was looking at yesterday and that is now in the 2785 area. Ideally that gets hit today. Intraday Video from theartofchart.net – Update on ES, NQ and TF:

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Beelzabubba

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Thanks to a strong monthly jobs report, the market is flying higher. As I’m typing this, the ES is up 23, the NQ up nearly 70, and what was going on in the market one month ago today is a distant, distant memory.

Because the economy is so strong, yields continue to strengthen (and, in turn, bonds weaken). As my PLUS users know, I’ve been kind of obsessed with bonds, and they were “turned away” nicely by the trendline a bit more than a week ago. At the moment, bonds are just about the only asset in the red.

ZBS (more…)

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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