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.

Baskin-Robbins

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It’s heartbreaking to consider how, in retrospect, June 16th would have been the ideal “well, 2022, thanks for a great year!” time to call it quits for this annum. My view at the time – – and, although it’s taking on some serious dissipation, but still my view – – is that the “Big One” hasn’t arrived. But maybe, as the past fourteen years have proved, bears get served nothing but disappointment in the end.

As I’m typing this, equities are blasting higher, although the topping patterns remain (BARELY) intact:

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Halfway Between the Gutter & Stars

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SPX rallied further on Friday to test the monthly pivot at 4078, and has been trading above it overnight. A string of decent quality double bottoms have broken up on the equity indices and if we are to see further upside then the next big resistance on SPX is at the daily middle band which closed on Friday in the 4108 area. This brings us to a big inflection point that should determine direction for the next few weeks.

On the bear side the daily middle band should hold as resistance. That can either happen with a fail directly at or under the daily middle band, or with a break above it that fails to follow through to convert it back to support. That would normally be delivered with a clear break above it that then rejects back below it the following day.

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Events!

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Hopefully, you’ll recall that SlopeCharts has a cool new feature called Event Markers. I decided to show recent activity on the SPY with some relevant events this week. The one is Tuesday morning’s “all eyes will be on…..…” CPI Report. Three reports ago, it tanked the market. Two reports ago, it started the market on an explosive rally. And the last report, it popped the market for two days and then it rolled over, thanks to Bear Force One.

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