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.

USD Breaking Down Versus Yen

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Today’s weakness in the USD versus the YEN can be viewed as having violated a support line that originated at the Sept 2012 secondary low at 77.13, and which cuts across the price axis today in the vicinity of 120.50.

Inability of USD/YEN to claw its way back above 120.50 increases the likelihood of downside continuation that challenges the prior pullback lows at 118.05/10, and, more importantly, at the Aug 2015 spike low of 116.15.

That would complete a 12-13 month top formation in the aftermath of a four-year bull run, and likely will have major implications for other global financial markets moving forward.

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Originally published on MPTrader.com by Mike Paulenoff.

Oil Still in Bullish Formation

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The “good news” for oil is that last week’s up-move exhibits bullish form from $34.12 to $38.28.  If accurate, this means that after the current pullback runs its course, NYMEX Crude Oil should embark on another upleg that takes out $38.28 to challenge more extensive resistance at $39.00-$40.00.

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Where will the pullback run its course?  My optimal target buy zone is $36.20-$35.50.

Originally published on MPTrader.com by Mike Paulenoff.

DNKN Looking Higher

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Dunkin’ Brands Group, Inc. (DNKN) has carved out a base-like accumulation pattern since added to our MPTrader model portfolio on Oct 27 (at 41.57). The pattern is pushing prices up against key resistance along the July-Dec resistance line, now at 43.30.

If 43.30 is hurdled and sustained, DNKN should continue higher, into its unfilled gap area starting at 45.00.

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Originally published on MPTrader.com.

Banks Strong Ahead of FOMC

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Ahead of the FOMC decision tomorrow morning, the banks are moving in anticipation of a rate hike that is expected to improve– perhaps significantly– their net-interest profitability.

Be that as it may, Bank of America Corporation (BAC) remains poised to enter a new upleg off of its Aug-Sept spike lows in the vicinity of 14.60, and to emerge from a larger, near-2 yr sideways, bullish-digestion period, the result of which, has the potential to thrust BAC to 19.50-20.00, in route to 23.00-25.00, thereafter.

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Originally published on MPTrader.com.

S&P 500 Approaches Significant Support

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Friday’s weakness has pressed S&P 500 (SPX) into the 2020 area for the third time since Oct 20, which qualifies 2020 as a key, near-term support level that must contain further selling pressure to avert downside continuation towards 1950/40 next.

Will it hold?

One look at a couple of medium-term momentum gauges, and we have to view the viability of 2020 with some skepticism.

A break of 2020 does not have to happen, but the anecdotal evidence is more compelling than not—that, at this time, to refrain from adding any, new, long-side exposure in equities.

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Originally published on MPTrader.com.