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.

Chart on GLD (by Mike Paulenoff)

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Is the "re-risk" trade back on for gold? Last week everyone was "de-risking," remember? The pattern carved out in the SPDR Gold Shares (NYSE: GLD) since the May 12 all-time high at 122.24 argues that major "de-risking" (otherwise known as profit-taking) emerged into the May 21 low at 114.01 (-7%). All of the action off the 5/21 low into yesterday's high at 119.08 has the right look of a new upleg in the GLD that should revisit the May high in the hours/days directly ahead. It is interesting to note that gold prices (the GLD) have climbed over 4% during a 3-day period when the dollar has declined versus the euro, which suggests that gold prices now are showing us they can rally in the absence of a flight to safety into dollars and Treasury bonds.

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Originally published on MPTrader.com.

Chart on Ford (by Mike Paulenoff)

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Looking at the hourly chart on Ford (F) since April 23, we can make the case technically that the recent spike lows at 10.14 and 10.40 represent a near-term double-bottom. This morning Ford broke above key resistance at 11.35/45 and continued higher, which has confirmed the near-term, base-like pattern, and which triggered upside projections into the 12.20/40 area next. Let's notice that a powerful down trendline off of the April high cuts across the price axis today at 11.85/90. If hurdled and sustained (above 11.90), Ford should run towards 12.20/40 quickly.

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Originally published on MPTrader.com.