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.

A Schtickle of a USD Breakout (by LZ)

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The U.S. Dollar Index is pulling back today, but this is largely a Euro-driven move. One currency that isn’t joining is the Korean won. This might be nothing, but it’s worth keeping an eye on.

The won is highly sensitive to China and global trade. A bullish divergence in USDKRW would be significant. History is admittedly limited, but breaks above the green horizontal in the 1330 area have only occurred during explosive bull runs.

Also, the resistance line breached today was last broken to the upside in August 2022.

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Buzzsaw

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If you want a vivid illustration how quickly a fad and burst onto the scene and vanish just as quickly, look no farther than Buzzfeed, which merely four weeks ago was the hottest thing in pants. Based on a press release that they were going to use ChatGPT to help write stories (!!!!!!!!) the stock absolutely exploded higher, trading over a quarter billion shares that day alone. Well, some of those gains survived, but the volume is back to where it used to be………maybe a couple millions shares a day. I strongly suspect on the one year anniversary of this announcement, we’ll look back on this as a complete joke.

Baby Got Back

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After a very quick trip to Boston over the weekend, I’m back where I belong. The markets aren’t exactly riveting this morning: on the whole, equity futures are up about half a percent, based on the spurious notion that stocks are “cheap” since they sold off a little last week. To my eyes, these are mere delusions, and the only thing that really counts is our friend the October 13th trendline shown on this chart of the S&P 500 /ES futures. We have broken this line, and the bounce right now is nothing more than an attempt to reclaim that line as support instead of its new role as resistance.

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Upcoming Month to Remember (by Xerxes)

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Note from Tim: be sure to check out the prior post, which has a very important announcement. I did not want to get in the way of Xerxes’ contribution, below, so on with the show……….

While there has been no shortage of astonishing and frustrating market action in the past 12 months in both directions, I am of the mind that this market is ready to break down. As with most things in Technical Analysis, the power of 20/20 hindsight is our biggest strength (ironically). Now that we see how we got to where we are at, we can make an assumption as to the future path. From what I have seen, the next month’s actions should make a deterministic move in either direction.

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Gold for Only Pennies

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For the first time in Slope’s nearly 18 year history, I’m finally able to do something I’ve always wanted to do, which is to give people a free trial of the site. Well, not exactly free. I’ve found in my experience that people who go for $0.00 stuff aren’t exactly great customers, but after a lot of technical wrangling, I’ve created a way to give people a super cheap (like 99 cents cheap) way to try the site. To take advantage of it, click here. It’ll get you all the privileges of the Gold membership for less than a buck. If that’s too much of a risk for you, I seriously have no idea what you think you’re doing in the world of self-directed trading. Anyhoo……….