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.

The Road To 3340 SPX

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As of Friday’s close our Follow The Leader service at theartofchart.net was up 168% year to date with 90% winners so far. This is an autotrading service in partnership with GFF Brokers, official broker for the World Cup Advisor Auto Trade programs.  This is included in our Daily Video Service and if you’re interested in that you can find out more about that here, and you can try a 30 day free trial at theartofchart.net here.

We are hoping to hit 200% on this by the end of the year at which point, on the minimum account size of $25k for this, the profits of $50k this year would repay our most expensive membership option, Trader Triple Play Annual membership at $2,490k per year, slightly more than twenty times over, not accounting for taxes of course.

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Testing The Weekly Middle Band

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As of Friday’s close our Follow The Leader service at theartofchart.net was up 168% year to date with 90% winners so far. This is an autotrading service in partnership with GFF Brokers, official broker for the World Cup Advisor Auto Trade programs.  This is included in our Daily Video Service and if you’re interested in that you can find out more about that here, and you can try a 30 day free trial at theartofchart.net here.

We are hoping to hit 200% on this by the end of the year at which point, on the minimum account size of $25k for this, the profits of $50k this year would repay our most expensive membership option, Trader Triple Play Annual membership at $2,490k per year, slightly more than twenty times over, not accounting for taxes of course.

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Short Term High …. Perhaps More

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I posted the chart below on my personal twitter yesterday morning with the comment that a retracement was likely and that a possible rally high was being made.

I was looking at the perfect hit of the ideal possible rising wedge resistance trendline for this move and the very large amount of negative divergence on the hourly and 15 minute charts.

A higher high was then made that overthrew the wedge slightly and improved the hourly negative divergence further, and since then we have seen a modest retracement which looks likely to go further.

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One More High Needed……Probably

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Last Friday there was a clear break back below the 5dma, and that was a fix under the Three Day Rule. On this rule SPX should retest the last low at 3491.58 before any retest of the prior high at 3806.91. I haven’t counted but there have been nine previous fixes in 2022 and I’d be surprised if this rule hasn’t fixed well over 100 times since the start of 2007 and on the current rules for this, after a small tweak in 2019, there has not yet been a failure, although there have been two marginal higher lows when triangles were forming at the lows.

I have mentioned that there is no such thing as a perfect market stat, and that I would therefore expect to see a fail on this stat at some point, but there’s no particular reason to think that would be here. I have been asked this week what I would expect to see if it does fail here but, as that hasn’t happened before, I have no idea, though it would open the next possible resistance level in the 3900 area.

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