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.

In The Big Inflection Point on Crypto

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A week ago I led with a chart looking at the strong correlation between SPX and BTCUSD (Bitcoin). I was talking about the big inflection point likely coming up on SPX, and SPX is in that inflection point now, at a stage where it could very much break either way, though the Fed gave bulls a big boost yesterday. Whichever way SPX breaks here, Crypto will likely follow to a significant degree.

On the Bitcoin daily chart, the daily middle band was backtested and held as support. BTCUSD has also broken back over the 50dma, and is close to a test of the 200dma currently at 63985. Bitcoin is looking a bit stretched at the moment, over the daily upper band currently at 62775, but still well short of the daily 3sd upper band currently at 65078.

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Tesla Gap Nearly Sealed

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Just last month, Tesla was a $182 stock. Since then, it has resolutely climbed. Along the way, I’ve been emphasizing the price target at just above $245, where that major price gap is.

I’ve had a vested interest in this, since one of my kids had a bunch of options (which expire TODAY!) whose exit I was seeking to optimize. We are just about there, so I think we’re going to have a pitch-perfect gap seal very soon.