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.

Looking at this Crypto Retracement

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Back in my post on 11th April I called the likely start of a strong rally which we then saw.

Back in my post on 12th May I called for new all time highs on Bitcoin (BTCUSD) and laid out possible IHS scenarios on both Solana (SOLUSD) and Ethereum (ETHUSD), looking for ideal right shoulder lows on Solana in the 125.43 area and on Ethereum in the 2074.27 area. That hasn’t gone quite as I drew then but essentially both are still running that scenario.

Back in my post on 23rd June I called the likely lows on those right shoulders made on Solana at 126.09 and on Ethereum at 2113.65, and was looking for that IHS scenario on both to start to play out.

Back in my post on 18th July I was looking at the IHS that had since broken up on Ethereum and the progress made towards the IHS neckline on Solana.

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What the Held?

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During Friday’s drop (which the media is characterizing as some kind of historic plunge, even though it was like 1.25%), the levels at which the equity futures slammed on the brakes was quite interesting to me.

For the /ES, I drew a line months ago anchored to the prior lifetime high (red arrow). On Friday, at the worst part of the drawdown, the /ES nailed this line almost to the penny and reversed higher (green arrow). It has pretty much undone Friday’s drop already.

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Getting It On

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The market is ripping higher today based on the delusion that a combination of (a) fake statistics generated by Trump-installed shills in data-generating departments of government and (b) lower interest rates are both going to make the market rage higher until the end of time. Nope! Indeed, government data will soon be completely ignored, since people will recognize it as manufactured for political purposes. What a crock.

My big winner today is On Semiconductor (ON) which is down about 10%. Here are some views.

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