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.

Nothing Can Stop This Market – Except?

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The SPX has continued its rally towards the ideal 2410SPX region this past week that we presented to you a month ago. And, it seems we still have a few squiggles to the upside left before this pattern is completed, and then tested.

Those with a short bias in this market have not fared very well. At each and every twist and turn, the market has proved its bullish intent, and continues to confirm our expectations that our long-term target of 2537-2611SPX will be met, if not even possibly exceed by next year.

In fact, I have warned for quite some time that we will begin to see former bears turning quite bullish, and we have seen this occur over the last several months. While I still do not believe we have reached the euphoric levels needed to mark a significant top, many former bears are coming over to the dark side.

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Is It A Bull Market Or Bear Market In Metals?

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Is It A Bull Market Or Bear Market In Metals?

By Avi Gilburt, ElliottWaveTrader.net

First published on Saturday May 13 for members of ElliottWaveTrader.net: Without fail, each and every time the metals have dropped since bottoming over a year ago, many panic and proclaim the bear market to have returned.  Moreover, many have looked to the USD as their guide to what the metals will do, and are completely befuddled when the dollar trades in tandem with the metals, as we have seen for almost two months.

As for me, well, since I was taught at a young age not to “ASSUME,” I only listen to price and try to ignore emotion as much as humanly possible.  For this reason, I rely on my analysis to make decisions, as relying upon emotion often puts you on the wrong side of the market at the exact worst time. (more…)

Metals Bottoming In The Upcoming Week?

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By Avi Gilburt, ElliottWaveTrader.net

First published on Saturday May 6 for members of ElliottWaveTrader.net:  Last week, I noted that we still likely have lower levels to strike in this complex, but that I expect the market to set up a bottom very soon.  I still maintain that expectation as I write this.

In my last weekend update, I noted that we still needed to complete waves 3, 4 and 5 in this (c) wave of wave (2) in the GDX.   We now have the minimal number of waves in place to the downside to consider it complete.   However, we did not strike our ideal target of 20.31, where (a) would equal (c), nor did we see a full 5 waves up off the lows we struck this past week.   So, since we do not have any confirmation that a bottom has, in fact, been struck, it leaves the door open for the market to still strike our target.

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Are You Done Looking for a Stock Market Top?

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By Avi Gilburt, ElliottWaveTrader.net

After the market bottomed at the 2330SPX support we noted weeks ago, it has continued higher towards our ideal target at 2410SPX on Friday, after spending the week in a sideways consolidation.

If you are done looking for a market top, well, so are many other bears. After this past week’s move (which we called for), more and more bears are waving the white flag. And the reason, which amuses me the most, is that they are claiming that “the fundamentals now support a higher S&P500.”

As I have warned many times in the past, market fundamentals are a lagging indicator. I have explained it in great detail in prior articles:

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If You Sell in May, Be Prepared to Buy Back

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by Avi Gilburt

It seems the action seen this past week has bears scratching their collective heads once again. With many viewing the market as certainly “topping” back in March, the market has doused cold water on those expectations, as I had been strongly warning would likely happen.

Since holding the support we noted several weeks ago at 2330SXPX, the market has seen quite a powerful move back up to the target we set between 2380 and 2410SPX. And, most of the rally was seen on the back of short covering of those who jumped the gun on the bearish side of the market.

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