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.

Six Of One …

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In my last post on Monday 30th December I was looking at the options after the big rally from the lows over the previous week. I referred to the prediction I made in my post on 20th December looking for the rally and then lower lows:

‘How long might this rally last? Well given that today is 20th December I’m thinking this rally may well take us into Xmas and fairly shortly thereafter into lower lows. We shall see. ‘

We have now seen those lower lows on US indices and the question now is what happens next. I see two obvious main options here and was looking at these in detail in my premarket video yesterday morning.

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Taking Stock On Crypto

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This is my last post for 2024, and this is a good opportunity to have a bigger picture look at where we are in the current bull market run on Crypto, before I get on to the shorter term setup for the next few weeks. My crystal ball has been mislaid for the moment in an unfortunate dry cleaning snafu, but I will do what I can in the meantime using historical price action and math.

I wanted to show you all my much bigger picture Bitcoin (BTCUSD) weekly log scale chart vs NDX, which is really a very interesting chart. I will quickly go through some of the highlights from this chart.

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Flagging Equity Markets

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In my last post on Friday 20th December I was looking at the very likely rally that I called that day in my video before the open and that we saw start that day on equity indices and Crypto, and I said the following then about that:

‘How long might this rally last? Well given that today is 20th December I’m thinking this rally may well take us into Xmas and fairly shortly thereafter into lower lows. We shall see. ‘

Obviously today is now 30th December, tomorrow is the last trading day of the year, and as I was saying on Friday 20th December, I was expecting the rally to fail into lower lows shortly after Xmas. That may well be in progress now.

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Still Searching For Santa

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In my last post on Friday I was looking at the support breaks on Dow & Russell and considering the wider implications of those. I was also leaning strongly towards the setup on SPX being a bull flag forming.

Since then a very nice bullish triangle has formed on SPX and, 70% of the time, these will break up towards the target, in this case a retest of the all time high at 6099.97. I wrote the comments on the chart when I posted it on my twitter last night and since then SPX has broken slightly below triangle support, which is a concern, but is rallying well from there so far. Assuming this morning’s low holds, the bullish scenario still looks nice.

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