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.

Friday The Thirteenth

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I mentioned in my post a week ago that on a break back over the daily middle band there were fixed buy signals on the daily and hourly charts that might carry SPX significantly higher and so it was, with SPX hitting 3997 at the high yesterday, and those buy signals have now all made target. I’m looking for signs of a high forming, and there are some signs here.

There is no negative divergence on the daily chart here yet, so I’m thinking we might see a sharp retracement here back into the daily middle band, currently at 3868, then retest the high to set up a possible double top.

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Happy Friday the Thirteenth!

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Well, ain’t that just typical?

Yesterday, we seem to have reached some kind of psychological breaking point. Bears were throwing in the towel left and right. Some of the most stalwart bears here on Slope were publicly expressing chagrin at their steadfast positioning. And multiple people cited some old man I’ve never heard of who was declaring that the Whaley Thrusting Humping Pattern or some-such thing had signaled a New Bull Market, and the signal had never failed.

Uh-huh. Just like the ZH post two days ago that presented (to its premium members) that the CPI would be a huge negative miss, and its predictive basis hadn’t failed for the past ten instances. (Spoiler alert: it failed). I don’t know anything about the Whaley Thrusting Humping indicator, or whatever it is people have embraced, but the idea that this is a new bull market is utterly risible, yet easy to accept, since it is human nature to be a permabull instead of a freak of nature like your humble host.

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