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.

Night Shift

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Good evening, everyone……….

Me and my fellas are hard at work (it’s been continuous since Friday) working on optimization, uptime, and reliability. I have probably accrued a dozen posts to write about the insanity we’ve been going through. It reminds me the old days at Prophet. You might as well put me in a trench with grenades going off around me, because that’s what it feels like, but I sure am glad to have my colleagues at my side. And we are making some GREAT strides this evening.

Out of the corner of one eye I’m watching the night time markets, and of profound interest to me is bonds, whose failed bullish breakout is mesmerizing. It’s not like there’s a dramatic plunge – about one third of a percent as I’m typing this – but an ultimate break of 141’13 on that horizontal would be spectacular to behold.

Backtesting Broken Resistance

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I mistakenly said last week that our monthly free public Chart Chat was last Sunday. It is actually next Sunday, so if you’d like to register for that, you can do that on our May Free Webinars page.

The NQ triangle broke up last week and ES broke up from declining resistance and back over the daily middle band. The short term low is likely made and ES/SPX has been backtesting broken resistance.

There is some scope to go lower, with the obvious support levels on ES at the weekly and monthly pivots, at 2645.5 and 2639 respectively, but these look like bull flags forming so far, and SPX has come close to a test of short term support at the 50 hour MA at 2653. That may be close enough. Partial Intraday Video from theartofchart.net – Update on ES, NQ and TF:

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The Star Mattered

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Yesterday when I was doing my live Tastytrade show, I pulled up the XOP and noticed that it was in a shooting star formation. I mentioned off-handedly that “one day does not a trend make”, but I felt it was worth noting (and I mentioned this with similar words in my post last night here). You can see yesterday’s formation quite plainly, as well as what’s going on today………..

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Too Obvious?

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Suspicious fellow that I am, I’m afraid of even mentioning this, since I’m afraid to “jinx” the situation. However, waking up this morning and looking at our systems monitor, I am breathing a sigh of relief that, so far, things are silky smooth on the new site. What a sharp contrast to the blow-ups and explosions yesterday (see arrows). The real test is coming in the next hour (I am typing this before the open), when big traffic hits.

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