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.

SPX Outperforming Gold & Oil

By -

Further to my post of January 5, the following provides an update on price action as of today’s (Thursday’s) close.

The following monthly chart shows the SPXGOLD and OIL in comparison format, as well as their respective high, low and today’s closing price for January, so far.

The instrument currently facing the “path of least resistance” is the SPX. It shot through prior near-term resistance (now support) of 3233 and continues to rally.

(more…)

TSLA: Next Target 450?

By -

Tesla’s (TSLA) meteoric rise from June this year has sent it to all-time highs, as shown on the following monthly chart…and has resulted in a 119.67% gain since then, as shown on the next graph. It’s been heavily favoured above the FAANGs.

Based on the trajectory of the Andrew’s Pitchfork formation, its next major resistance lies around the 450 level.

The Balance of Power lies firmly with buyers and is approaching an all-time high. Watch for that to continue on this longer-term timeframe to support a further rally.

(more…)