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.

Hemmed-In

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Thank heavens for SlopeRules. Were it not for this project, I would be going insane with boredom in this market. There is nothing more boring than a captured market, and boy, do we have one of those.

Below I’ve put a few key index charts, highlighting what I consider to be medium-important resistance levels. We are all waiting on our hands for The Big Uncertainties to resolve themselves. Until then, it feels like we’re in a state of suspended animation.

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Headwind of Fib Resistance Versus Tailwind of Fed-Speak: Which Will Win Out This Week?

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In last weekend’s article, we focused on the relentlessly advancing S&P 500 (SPX) from its December 26 low at 2346.58 into an important Fibonacci price and time resistance zone at 2713.70 on January 31.

The 2713.70 level represented a 62% SPX recovery of the entire September-December decline, while January 31 represented day number 89 since the September 2018 all-time high, and the day that the December-January recovery rally time period equaled 38% of the overarching total timeframe from the September high.

We discussed the likelihood that the confluence of such meaningful Fibonacci price and time relationships could and should stall or reverse the relentless SPX six-week advance, and as such, would be a yellow caution flag for the bulls. (more…)

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