The Lords of War
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.
Weekend Thoughts
Back in my post on Friday 16th May I was looking at the daily RSI 5 spike over 90 on SPX and noted that:
‘From here this means that SPX likely at least consolidates without going much higher for two weeks and then we could see a larger retracement but without any strong expectation of a big decline. I am wondering though about a possible backtest of the 200dma, currently in the 5760 area‘
It has been two weeks since then and we’ve seen that consolidation with a low at the backtest of the 200dma. Is there anything obviously bearish about this consolidation? Not yet, and I am still looking for likely retests of the all time highs on SPX and QQQ, and perhaps also on DIA and IWM, though I’m still thinking that an equities moonshot through the rest of the year seems unlikely.
In my premarket video for paying subscribers on Friday morning I was looking at an interesting setup on ES and NQ, where both had and still have decent quality double tops, and a smaller H&S had formed on both that on a break down would have a target close to the larger double top support levels.
(more…)Informed by Crypto
Although Bitcoin very recently achieved another lifetime high, which took it a good four months to accomplish since the Inauguration Day peak, there was no follow-through at all. Instead, it sputtered and quickly slipped by about eight thousand dollars.
Top Futures Markets
I thumbed through eighteen key futures markets and thought I’d share half of them with you, since they struck me as important.
Crude oil’s right triangle top is gloriously intact, and God willing, this sucker is going to plunge in the weeks and/or months ahead. This is absolutely begging to go lower.
