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.

Surprisingly Reliable

By -

If I’m anything as a trader, I’m curious. I wonder constantly. What about this? What about that? How do these interact? What has happened historically in this particular situation?

Excel has been my go to fact checker for probably close to a decade now. It’s simple enough for me and does what I need it to do. It has also convinced me that I could never be a computer programmer. My go to condition checking formula is a basic if>then statement:

“IF this condition exists, (and this, or this, occur at the same time), THEN state it as the value of: (the upper bollinger, current price, 10MA + $5, etc.)”

They can get pretty complicated sometimes and anything beyond a few conditions and I’m likely to have a formula error because I missed a parenthesis or a comma, and then my eyes start to cross and my brain gets the blue screen of death. My solution in these cases is to break the formula down in a basic word doc and put it together piece by piece.

(more…)

Testing Strong Resistance Here

By -

Apologies for the extended absence again as my interminable divorce drags on. That’s making progress though at least, and in a few months at most should be done.

In the meantime I posted my premarket video at theartofchart.net from this morning on my twitter in the morning and on indices so far at least that has been exactly on target. If you missed that then you can see that here.

Just to recap quickly what I was saying on the video, I was expecting SPX and NDX to rally into retests of the strong resistance trendlines that have been holding so far this week on both. We have seen that retest on SPX and a daily RSI 5 sell signal is now brewing as expected. If that fixes then these have been good performers for delivering retracements this year.

(more…)