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 Retracement Low Is (Probably) In

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We are doing our monthly free public Chart Chat on Sunday. If you’d like to attend you can sign up for that on our July Free Webinars page.

SPX reached the ideal 2680-2700 retracement low range and has rallied strongly from there with a 60min RSI 14 buy signal fixing this morning. The low isn’t definitely in yet, with resistance at the 50 hour MA and daily middle band above in the 2737 and 2756 areas respectively, but this is a very strong candidate low, with a decent double bottom setup here meaning that there would be no need to retest the low as part of a bottoming process. We’ll see how that goes. (more…)

The Weight of the World

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Now that Bitcoin has breached $6,000, it should be melting away, but I suspect enough major players realize how vulnerable crypto is at these levels that they are doing a yeoman’s job keeping things propped up for now. From a support/resistance perspective, there is little in the way of support at these levels, however. One piece of bad news from some corner of the earth should start things sinking in earnest.

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Glory Glory Calley-Yoo-Ya

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In my Tesla, I can play any song in the world just by saying “Play {whatever}“. After it plays the song, it’ll continue on with similar songs. So if I ask for a certain Broadway hit, then it’ll keep playing Broadway stuff forever.

For some reason, when I was listening to whatever songs it was picking, it started playing this totally bizarre piece called the Battle Hymn for Lt. Calley. I don’t know a tremendous amount about the Vietnam War, but I certainly hope you’ve heard of Lt. William Calley who was court martialed for murdering 22 Vietnam civilians (mostly women and children). His name became synonymous with evil, and years after the incident he finally expressed deep remorse.

Anyway, for some reason, someone thought very highly of the Lieutenant and made this song praising him. It would like me writing “Hats Off to John Wayne Gacy”. Anyway, believe it or not, here it is:

Think Pink

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Yesterday, for no particular reason, I fired up the original Henry Mancini Pink Panther theme. I was transported back to when I was a little kid and saw the movie on television. After the credits, I was tremendously disappointed to realize it wasn’t a full-length cartoon (back in the 70s, of course, the Pink Panther was a staple of Saturday morning cartoon shows). In any case, it’s a great song, and these must be some of the best titles ever created for any movie:

What Can Brown Do For You?

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Greetings from flyover country, as I make my way to the Mississippi River. It’s a quiet day in the market, with the ES struggling between a little red and a little green, and not one of my 80 shorts has been stopped out. I’m grateful for a quiet day, because it would be an nightmare in this tiny seat on slow WiFi otherwise.

I’m about to thumb through all 80 positions to update my stops, but one company in particular that caught my eye was one of those 80, United Parcel Services (UPS):

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