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.

After The Holiday

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I hope everyone had a great Independence Day weekend. For some obscure historical reason that isn’t a public holiday over here in the UK, but as I work US hours I had a very pleasant long weekend.

I’m going to look at the short and longer term prospects for SPX here, and I’ll start with an important longer term chart, the SPX monthly chart where there has now been a monthly close below the key support & resistance trendline on SPX since the 2009 low.

That opens the possibility for further downside and we may well be seeing that either sooner or later.

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Our Quartet Begins

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Good morning, everyone, and welcome back from the three-day weekend celebrating the founding of our once-great Republic. I am delighted to say that there will be no more holidays until September, unless Congress panders to another special interest group and rolls out the Albanian Feast of the Cabbage God as a federally-sanctioned event. I, for one, am weary of these government-based edicts requiring people not to work (which, let’s admit, is the only thing the government is good at anymore).

I was watching the futures during the weekend, but crypto was even more interesting. It was looking like the bulls were eager to take their one day of victory (Friday, July 1st) and try to run with it. Little do they realize that the only reason they got that rally is because I didn’t get on Bear Force One. The world’s money had already been positioned for my flight, but when I cancelled, there was a snapback effect. That’s history, folks. The BFO fade trade is over.

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Bear Force One Grounded

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I had originally planned to fly to Minneapolis (jealous?) on Friday, July 1st, but me being struck with Covid put the kibosh on that. Of course, the cancellation of my Bear Force One flight sent the market exploding higher on the first trading day of the quarter. By the way, a lot of folks have been asking how I’m doing. I have tested NEGATIVE for the first time, and I feel almost 100% healthy. Anyway, as a person who would have been flying home late tonight (but was spared the entire trip), let’s just say I’m glad I’m not involved in any of this: