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.

Alert! Alert!

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I’m got some awfully cool news about Slope.

In the nearly 14 years this site has been around, we’ve never done alerts. Now we do. This is the newest feature to emanate from SlopeRules. What I’m about to show you is the first method of establishing alerts. There are other, better methods coming very soon.

In order to create an automatic alert from Slope about any of your symbols which are “triggered” by a SlopeRules rule set, start by choosing the watchlist you want to monitor. Right-click on the watchlist, and choose which SlopeRules in your library that you would like to apply.


Four Movers to Watch

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Here are four stocks with strong technical momentum moving higher on news.

Aphria Inc. (APHA) gained 44 cents to $10.15 Wednesday on 7.8 million shares.  Last Friday the Canadian cannabis producer said a probe of acquisitions in Latin America found certain board members had conflicts, but that the price paid was comparable to rival deals.  The stock, which had pulled back from resistance at the top of its rising channel, has since bounced off the channel bottom towards a retest of its early February high. A move through that high near $11 could accelerate the stock towards $14.

Everbridge, Inc. (EVBG) rallied $3.69 to $67.95 on Wednesday on 1.4 million shares, more than triple its average volume.  The software developer reported better-than-expected quarterly financial results on Tuesday.  The stock got as high as $71.61 intraday.  The long-term chart shows the top of the channel extends to the low-$80’s. (more…)

SPX Rising Channel Support Broken

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I was looking this morning at the decent looking possible rising wedge resistance trendline established on SPX at the highs this week and watching with great interest as rising channel and now possibly wedge support was tested again this morning. The trendline held on the first test and then broke on the second, so there has now been a significant technical break down, and the door is open for a possible significant retracement on SPX/ES. We shall see what develops.

In the short term there is an open 60min RSI 14 sell signal that fixed yesterday, the 50 hour MA is at 2763/4, tested and the low today, and short term daily close support/resistance is at 2771. If SPX is topping out short term that we may see a high retest to set up the topping pattern for a larger retracement. (more…)

The $3 Trillion Impact

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From In 2007 the Financial Accounting Standards Board (FASB) made an accounting change – referred to as FAS 157. FAS 157—also known as “mark-to-market,” or “fair value accounting” was primarily responsible for putting Lehman Brothers into bankruptcy and triggering the dominoes that would subsequently fall in concert. The assets didn’t change materially, the “required” accounting of them did. This well-meaning, but utterly ham-handed effort was largely responsible for precipitating the Great Financial Crisis of 2008-2009. You can see the correlation on the chart above between the time FASB implemented the new rule (starting the crash), and when they reversed their mistake (market bottom in 2009). There is no coincidence in this timing.