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.

Bull Flags Breaking Up

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There is a very strong rally setup coming into today, so I’ve decided to do an AM post this time, with the video below being the section on indices from my premarket video this morning.

The rally setup is the breaks up from bull flags on SPX, NDX and RUT yesterday afternoon and this morning, and the double bottom on SPX that needs to break and convert double bottom resistance at 2683 to fix a double bottom target in the 2705-8 area. If that delivers then all three have a decent shot at a retest of last week’s rally highs. Premarket Video from theartofchart.net – Update on ES, NQ and TF:

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Alpha-Bits

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Equity bulls need a “shock to the upside” to get them back into their long-accustomed feather bed of new lifetime highs every day. Some thought last weekend’s “North Korea Peace Fest” would do the trick. It didn’t. New hope was offered after Monday’s close when GOOGL announced blowout earnings. It looked like just what the doctor ordered, as the stock roared nearly 50 points higher instantly. As you can see by the tinted area below, it wasn’t exactly long-lasting, and you could almost hear the face of GOOGL call owners drop in despair.

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