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: Warning Gaps?

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As Friday’s trading action is coming to a close in a couple of hours before the Labour Day weekend, an interesting observation to note is this daily chart of the SPX.

Since the beginning of August, gaps on the open in both directions have pretty much occurred on a daily basis (blue box). When the same thing happened in the last quarter of 2018 (blue box), we saw a rapid plunge in the space of a few days.

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Volatility Churns In US Markets

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As I mentioned in my post of August 5volatility ramped up on July 26 and it continues to churn in US markets, as evidenced on the following daily chart of the SPX, as well as the monthly chart of the SPX:VIX ratio.

Near-term resistance and support levels are 2950 and 2800, respectively, on the SPX.

Major resistance and support levels on the SPX:VIX ratio are 200 and 100, respectively.

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High Yield Corporate Bonds: Breakout Or Breakdown?

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The High Yield Corporate Bonds ETF (HYG) is at an interesting juncture.

There are, potentially, two uptrend lines that one could apply to form a large long-term triangle pattern on the following monthly chart. In turn, two possible triangles and two apexes emerge.

Price has been bouncing in between both apexes (and upper edge of this triangle) since February of this year. Attempts to fully break out and move higher have failed repeatedly since then.

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What Does Dr. Copper Signal For Global Markets?

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The following monthly chart of Copper shows that price is hovering above the apex of a very large long-term triangle.

Since early 2018, it hasn’t been able to break out above the upper edge of this triangle, confirming the weakness that we’ve been seeing in global markets, to date. My last article summarizes this weakness in a nutshell.

I’ve shown the Rate-of-Change (ROC) and Average True Range (ATR) indicators in histogram format with an input value of one period. I’d watch for a series of larger spikes on each to signal, either serious and sustained buying, or a plunge to further lows (as another gauge to track global market strength/weakness). Otherwise, continued smaller spikes would accompany more range-bound, tepid trading in Copper, as well as global markets, in general.

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