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.

Apple Channel

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I wanted to show a chart within a chart which is quite interesting: below is the long-term ascending channel of Apple. Present price levels would suggest it is a relatively bargain. However, take a good look at the inset, which represents the price action of the tinted zone. See how it was repelled at its price gap? (This is the price gap created by Tim Cook’s warning about their forthcoming earnings). Simply stated, if AAPL breaks this channel, it’s a whole new ball game for the former trillion dollar company.

Star-Studded FAANGs

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I last wrote about the FAANGs and FNGU and what I was monitoring in my post of November 4, 2018.

2018 was the year we saw the FAANGs form bearish shooting starsEach candle on the following charts of FBAMZNAAPLNFLX and GOOG represents a period of one year (absent on these charts is 2019’s candle, as I’ve left it off to illustrate last year’s weakness and volatility compared with prior years in these stocks).

You can see, at a glance, that FB is the weakest of the five, as it has erased almost all of its 2017 gains, as well as its gains last year.

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Bear Flags and SPX Pivot

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In the video below before the open this morning I looked first at the clear bear flag rally patterns developed on ES, NQ, RTY, DAX and ESTX50, then SPX, NDX and RUT. That’s a lot of bear flags and while these don’t always break down, they usually do and the odds favor that again here. None of these have broken down yet apart from a slight break on ES rising wedge support, and if we see confirmation with a break and conversion of the ES weekly pivot at 2572.50 to resistance today or tomorrow then I’d expect all of these bear flags to start breaking down with likely minimum targets at a retest of last month’s low. Full Premarket Video from theartofchart.net – Updates on ES, NQ, RTY, DAX, ESTX50, SPX, NDX, RUT, CL, NG, GC, SI, HG, ZB, KC, SB, CC, ZW, ZC, ZS, DX, EURUSD, USDJPY, USDCAD & AUDUSD:

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Is the Recovery Rally Nearing Exhaustion?

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My article last week, “Tale of the S&P 500 Tailwind,” came on the heels of the Emini S&P 500 (ES)’s rally of 100.75 points (4.1%) off the 2019 low and 53.25 points (+2.1%) above the Christmas week close. On its face, the advance was impressive, but recall that I qualified my enthusiasm, stating the following: 

“In the aftermath of the Christmas Upside Reversal, last week ES (e-Mini March S&P) traversed a range from 2438.50 to 2539.25… and ALL OF IT occurred on Friday (1/04/19) after Jay Powell acquiesced to the wounded easy money masses, appearing to become a kinder, gentler, and more investor-sensitive Fed Chairman.”

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