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.

Updated SPX Roadmap

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I was saying in our free monthly Chart Chat on Sunday that the obvious next downside target on SPX was main channel support, and a test of that trendline that would mean that the channel had likely evolved into a rising wedge, which is something that happens regularly. If you’d like to see the recording of that it is posted on our October Free Webinars page.

At the low yesterday SPX hit that rising support and held it, and hourly buy signals fixed across the board on SPX, NDX and RUT. That should be the start of a new leg up and, as long as that trendline support remains unbroken, the next target within the rising wedge is wedge resistance, due to reach the 2965-70 area by the time of the next high window in early November.

Full Premarket Video from theartofchart.net – Update on ES, NQ, SPX, NDX, RUT, CL, NG, GC, SI, HG, ZB, KC, SB, CC, ZW, ZC, ZS, DX, EURUSD, USDJPY, USDCAD, AUDUSD: (more…)

Damaged in Transit

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It definitely is feeling like a stock picker’s market again, and that’s a very good feeling. I’ve been nicely profitable all day, in spite of the completely-for-no-reason countertrend rally. My short picks are defying the fake, phony, fraudulent bull market gasps.

One particular victory is Packaging Corporation of America, which has been getting firebombed the last two days. I’m holding my position.

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