This was just posted. Oh. My. God. Put it on full screen and watch the whole thing.
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.
You may have read the news that General Motors is firing 14,000 workers (must be another benefit from all that manufacturing in America success we’ve been seeing). Although this is bad news for the 14,000 getting fired (to say nothing of their families), the shareholders love, love, love it. As a chartist, I wanted to point out to you that it makes for a nearly perfect gap-fill.
I wanted to start off by first saying we have really clamped down on security on the site. As Slope has become increasingly popular, it also has become of greater interest to automatic “bots” that try to break into sites (just FYI, no financial or payment information is stored at Slope, so frankly there’s no particularly useful data to steal anyway!) In any case, we’ve made a number of security improvements, including the fact that you have to solve a simple math problem in order to log in now:
First off, please press Ctrl-F5 on your keyboard. We’ve been doing a lot of tweaking on the site, and I want to make sure you get the latest, freshest version. Please do it now. I’ll wait.
OK, thanks. I hope you’re seeing the speed improvement on the site. It’s certainly miles away from what it was a week ago!
I’m sure you’ve heard about the continuing crumbling of the crypto chasm chronicled. As a chartist (and not a crypto trader), I can only point out that pink line as being the last sorta-kinda support for the bluest of the blue chips, Bitcoin, which is the kind of the cryptos with about 2,000 lesser coins under it. It has lost “only” 81% of its value, as opposed to 90%, 95%, or 99.9%.
Oil fell pretty much nonstop from October 3rd until November 23rd. At that time, I pointed out the magenta horizontal (shown below) as well as the blue descending trendline, each of which I felt would act as support. So far they seem to have done so, and as rapidly as oil fell, the “bounce” could be just as swift (although certainly not with enough power to recover all those losses).
I have been getting such a chuckle from the market of late.
As the market made its way down to our 2600 target region towards the end of October, more and more market participants and analysts became more and more bearish. In fact, the bearishness was palpable as we approached 2600SPX.
However, our analysis suggested that the market should bottom in the 2600SPX region, and begin a corrective rally, which then topped at 2815SPX.
But, the day after the market began a strong rally off the 2603SPX level, many were quite fearful that Oct. 31 would provide us with a market crash. You see, that was the day that a quantitative tightening was scheduled by the Federal Reserve.
Yet, that day provided us with a 50-point rally. Yes, you heard me right. And, again, market participants and analysts were looking the wrong way in a big way due to their fundamental beliefs about what drives the stock market.
The equity markets were green right from the get-go when the Globex re-opened on Sunday, and they got stronger all through the night. And in spite of the fact that the ES has absolutely broken its uptrend from 2009………