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.

Price Action in the SPX:VIX Ratio Still Volatile…

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Further to my last post on the SPX:VIX ratio, price is still consolidating and we’re awaiting a break one way or the other (above 180.00 or below 110.00).

Meanwhile, volatile swings continue, pushing down record-high Momentum levels…a drop below the zero level (see Weekly chart below) could see a break of this weekly uptrend begin to the downside (around the 110.00 price level). However, we may see a retest of the 130.00 level on the pretext of a major breakdown followed by a surge in price action. (more…)

The Shanghai Shuffle ‘n Surge

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China’s Shanghai Index has been quietly rallying since it approached the 2000 major support level once again in mid-June, as shown on the Daily chart of SSEC below. A recent surge has pushed price above the 200 MA, while the RSI, MACD, and Stochastics indicators remained above the zero levels and continued to rise.

Near-term support sits around 2090…a hold above this level should see price continue to rally.

(more…)

GOLD – Next Hurdle is 1400

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If GOLD can hold above the 1300-1330 major support level shown on the 5-Year Weekly chart below, the next resistance level is around the 1400 level.

There is a convergence of the 50-week moving average, mid-Bollinger Band, -1 deviation level of the downward-sloping channel, and the 5-Year Volume Profile POC (pink line along the right side of the chart) at this major support level.

GOLD has, generally, been under accumulation since June of 2013, although it has been trading in a large range between 1180 and 1400 since then…one to watch in the coming days/weeks, particularly in light of Thursday’s major geopolitical events in the Ukraine and Israel/Gaza Strip.

“RISK-ON” Theme to Begin Fourth of July Fireworks

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Since the lows of 2009, markets have been trending upwards, generally, with a couple of pullbacks in 2010 and 2011.

From the Weekly comparison chart below of the Dow, S&P 500, Nasdaq 100, and Russell 2000 Indices, you can see how much markets have gained, percentage-wise, since those lows. The Nasdaq is in the lead, followed by the Russell, S&P, and the Dow, thanks to the Fed’s monetary policy pertaining to financial price stability, inflation, and unemployment concerns. (more…)