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.

SPY Update (by Leaf_West)

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LA_06 As most readers of my blog have seen with my posts in the blog and in the live chat, I have been looking for a push into the $132-$133 area as the first leg of the "B" Pattern in an ABC Zigzag correction off of the Feb 2011 highs.

For those of you unfamiliar with eSignal, the rainbow colored bar is the "MOB" target drawn by their charting software.  MOB stands for Make-or-Break, and it is drawn off of pivot points using Elliott Wave Theory.

March 24th Forecast:

SPY_March24, 2011_Pre-Market01

Current Chart:

SPY_March30, 2011_TradingDay01

The first leg down from the Feb top ("A" of the ABC Zigzag) was in itself a zigzag and therefore I am expecting a flat pattern for the B leg pattern.  For those readers that are less familiar with this, here is what I am expecting (along with the forecast I drew on March 24th) …

SPY_March30, 2011_TradingDay02_ABC

March 24th Chart:

SPY_March24, 2011_TradingDay04

Cheers … Leaf_West      Visit my Blog

Looks like a Duck, Walks Like a Duck … (by Leaf_West)

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I hope everyone is enjoying this bounce off of the recent lows  …. I thought I would f*ck with everyone's minds some more by putting up a comparison between the S&P500 index currently and the topping action in 2007.

S&P versus 2007

S&P versus 2007_data

The reference points line up pretty nicely in terms of days from the starting point (end of the correction going into the last rally).  I extrapolated forward the 2007 pattern to get the projected dates along with the index levels.  The new high in 2007 was exactly 1.0% above the previous high … very acceptable as a double top retest.

Cheers … Leaf_West

As Sinatra Would Say “Come Fly with Me …” (by Leaf_West)

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LA_10 I posted some charts in my free Live Chat Room on Friday morning just after 11am eastern when I went long UAL.  It turned out to be my best trade of the day as I added and sold in almost text book fashion.  I thought I would elaborate on this trade as an educational lesson and look more at the sector in case there is more opportunity here.

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