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.
With an input value of one day, the rate-of-change indicator shows which of the following 9 Major Sectors gained/lost the fastest in today’s action (2-month and 1-year daily charts below).
In this regard and in particular, watch for any continued strength in Energy (XLE) and any continued weakness in Financials (XLF) next week and beyond, which may equate to equity weakness, in general.
As shown on the daily chart below, Bitcoin has recently broken above several types of resistance, namely a downtrending Andrew’s Pitchfork channel, and two downtrend lines.
There are two potential scenarios for Bitcoin relative to the pitchfork channel:
- price spikes up to its 200% Fibonacci outer edge, which is currently around the 10000 level, or
- price drops back down to its 100% Fib channel edge, which is currently around 4000.
Keep an eye on the momentum indicator. It’s in the process of forming a higher swing high, hinting of further strength ahead, but we’d need to see a series of higher price swing highs and lows to suggest that its downtrend has reversed with any conviction. Otherwise, it may head towards 4000. (more…)