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.

Importing the Drawings of Others

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A few days ago, a Sloper – – a Gold member, in fact – – wrote to me about the Publish/Subscribe feature. He asked if, when he imported symbols from one of my published watchlists into his watchlists, whether or not he could also get the drawn objects I had applied on top of my charts. I told him no and said that was “for a lot of reasons.”

But after I sent the email and considered what the reasons would be……….I realized there weren’t any. In fact, the only “reason” was that the feature didn’t exist. Thus, as I always do, I set about to create it.

The initial part works like it always did. First, you subscribe to any watch lists that others have published:

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Rallying Into FOMC

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Last week I was talking about a backtest into the 5dma / 50 hour MA support area and we saw that, and another leg up over the daily middle band and the 50% retracement level that brings SPX up into resistance at the 61.8% retracement level at 2812 and the September rally high at 2816.94. I have a decent looking rising wedge from the low that has slightly overthrown wedge resistance and a lot of negative divergence on the 15min chart particularly. SPX 15min chart:

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Lines Trampled

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The bulls have absolutely trampled the bears today. I’m proud of the fact that I suggested ERX, XLB, KBE,and some other longs near the end of October at what turned out to be great prices. I’m not so proud of the fact that, personally, I sold them only a few days later! Because it’s clear that “the bounce” is still going on, nearly two weeks strong now.

A number of horizontal lines have been simply blown away. As I’m typing this, the Dow is up well more than 300 points, the ES over 40, and the NQ over 150. It’s quite a bonanza for the bulls, particularly considering the House is back in Democratic hands. So the “last lines standing” are shown below for the Dow Jones Composite:

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The Only Antidote

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Let’s force ourselves to take a break – – just a short break – – from elections, markets, and charts, to drink in one of the best moments in movie history. I for one do not think that the band was down. I think the problem may have been…that there was a Stonehenge monument on the stage that was in danger of being crushed. By a dwarf.

Poll Dancer

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You are probably acquainted with the old saw, “you always fight your last battle”. In the case of politics, the last “battle” saw every poll prediction turned on its head, and a night of nothing but jaw-dropping shocks. Thus, people assumed 2018 would be like 2016, and they laughed at the polls.

Well, as the results clearly show, the polls were 100% right. In fact, you might as well have predicted the outcome in JULY, since it’s exactly, precisely, and spot-on what the pollsters and oddsmakers predicted: a Democratic House, a Republican Senate, and nothing particularly earth-shaking on the national scene.

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