I learned what little I know about trading from an intensive course taught incrementally over the course of a few years attending with and encouraged by a couple who had been my best friends for 30 years. One morning a few years ago “Bill” climbed on his bicycle for a late morning ride, was the victim of a grisly accident, and was killed – we hope – instantly. (more…)
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.
Monday Bounce (by Faces In Cabs)
There was a quick 2nd tap down to Friday lows on many charts Monday morning, however the market bounced from there and rose into the close. Market index futures were front running their respective indices all day, and then suddenly took a dump minutes from the close. The NQ dropped 10 to 15 points, and the YM dropped 30 by the close. Overall, not enough progress was made to erase last week’s shock event from the charts, HOWEVER the bounce stopped market bleeding and appeared to temporarily stabilize price.
Market Notes
- Market firmed after bounce off Friday lows
- First price stabilization after shock event
- Upward trend has NOT changed
- Continued market pull back is possible
- Volatility compressed Monday but remains elevated
- Monday was a low volume up day (no accumulation))
Weekend Getaway (by Mr. Wizard)
Weekend Getaway (To the Year 2034)
Would you like to take a road trip? Yes? This is a trip to the future, to the year 2034. We’re going to accompany Ryan and Brittany, a couple in Knoxville, on an imaginary trip to Orlando, where they will spend a three day weekend with Ryan’s parents.
Our journey begins on a Friday morning at our lovely couple’s home, with Ryan busily planning their trip. It started a few minutes ago when his parents invited him and his wife down for the holiday. Ryan plans to take their car. Like most cars today, the couple’s car has an autonomous driving mode, making it a fast and easy trip, and allowing them to relax virtually the entire time on the road. Ryan’s parents expect them for dinner on Saturday; since they’ve made the trip before, Ryan knows leaving at 9 AM will get them to his parent’s house in plenty of time.
JBTFD? Not so fast! (By RayW)
Price Stabilized / Not Stabilized? (by Faces In Cabs)
Technically, I have my attention on volatility this first week of August. I saw lots of predictions over the weekend of how far down we might go (and many varying levels to watch). I shared on the weekend that I am watching 1082 for the Russell 2000 (the bottom of a double top pattern range). This seems reasonable to hold forth as a pattern-based range. We may test that support level this week (and we may not). I noticed that many missed this chart on the weekend, so I share it again below. I basically see 1082 as a “ledge”. If the Russell 2000 price firmly falls off the ledge, then the range is finally broken and odds are essentially WATCH OUT BELOW, because the markets have not seen trading below 1082 since October 2013.
Russell 2000 Weekly (worth watching for downside leadership)
