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 Road Less Travelled

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The bull scenario initially looked good after my post last week, with clear breaks back over the daily middle band and 5dma on Friday. That triggered the 5dma Three Day Rule, which on a daily close back below the 5dma on Mon day or Tuesday would look for a retest of the most recent low. SPX then broke back below the daily middle band and 5dma at the close on Monday, and retested the 2670 low on Tuesday.

Now I was saying last week that the alternate bear scenario would look for a retest of the main retracement low at 2603.54 SPX. We have not yet seen that full test, but after the current rally, it’s likely that we will see that test. At that test SPX either finds support there on a marginal lower low, or extends lower to the 2018 low & annual pivot area 2530-40. (more…)

Stages of Rages

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Now that we’re in an honest-to-God bear market………….thank the maker…….I am obsessing over charts even more than I normally do (which is saying a lot). I’ve noticed that the most interesting charts are those which are breaking down in stages. That is, they will be locked into a range-bound period of consolidation, and then some “shock event” will lurch them down to a new, lower range, and they’ll stay locked there. It makes for good use of horizontal lines. Apple is a good example:

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Buster Scruggs

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The Cohen brothers have just finished another marvelous feature, The Ballad of Buster Scruggs, and you Netflix subscribers get it for free. I’m enjoying it tremendously and highly recommend it. Watch it during the holiday!

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