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.

There It Is Again

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A couple of nights ago, in a short post called It’s Quiet, I wrote, ” My spidey-sense is that it’s not going to be this painless. I am frankly stunned and how lackadaisical the market is being about this entire affair, yet as I look at the chart above, I simply don’t think it’s going to hang around at 14 forever with its thumbs in its pockets. Another shoe is bound to drop. “

Although “Spidey Sense” isn’t a widely-known technical indicator (not even in my cherished SlopeCharts), my intuition seems to have been correct. The shame of it is that we can’t behave like this is a normal market where we can do our analysis, get into our positions, set our stops, and move on with our lives. No, instead, we have to constantly be looking behind our backs from moronic amoral criminals like Kudlow and Mnuchin for their next effort to prop up this utter fabrication.

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Announcing OptionDots

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Perhaps it seems like I’m making this up as I go along, adding feature after feature all willy-nilly. Believe it or not, I actually have a plan in mind, and we’re getting there one baby step at a time. Here’s another step, and I assure you, this is the start of something much larger.

SlopeCharts now has a one-of-a-kind way to represent the options contracts that exist for a given financial instrument, and we call them OptionDots. To use them, just click on the Delta symbol (that is, the triangle) on the row of SlopeLinks:

delta
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Three on the Move

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Three stocks that had been digesting recent gains now appear to be on the rise again.

ArQule, Inc. (ARQL) gained 42 cents to $7.17 on 2.6 million shares Tuesday.  The move, on more than 1/2 times its average volume, came on no news from the biopharmaceutical company.  The stock broke out of a month-long wedge pattern last week and backed off before Tuesday’s move.  It edged above resistance at the July high of $7.21 intraday.  A follow-through could get it to $8.50 next.

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Three Day Rule Target At 2801 Retest

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SPX broke back over the 5dma last Thursday and that put SPX back on the Three Day Rule, which is that after a decline of more than 2% followed by a break back over the 5dma, then SPX must hold above the 5dma the next two daily closes. If SPX fails to manage that then the retracement low (2801) should be retested before the initial high before the decline (all time high). The close on the third day on Monday was a clear break back below the 5dma. That low retest would normally be soon after the break and this a very strong stat, so I am looking for that 2801 retest.

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