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.
Elliott Wave Mad Libs… Part Deux (by Leaf_West)
Since Tim loves EWT and can't go 24hrs without poking the bear, I thought I would post the EWT chart for the next couple of days.
SPY 60-Min Chart
I will repost this chart in a couple of days to show the POWER of EWT … odds are Tim will refuse to post it due to the public embarassment it will cause him (LOL). (Editor's Note – not so! If you or anyone else out there can make good predictive use of this technique, I'm all ears! – Tim)
Cheers … Leaf_West
Wave Analysis of USD (by Avi Gilburt)
If you listen to many of the market analysts discussing the dollar and its relationship to the metals, or to the equity markets, it seems as though there is much confusion. The confusion is due to seeming “correlations” between the dollar and “risk” assets that are no longer holding true. In fact, many were expecting that a rally in the USD would coincide with a decline in metals and the equity market. But, we have recently been witnessing a break within these correlations.
It is for this reason that I continually stress that each chart MUST be analyzed on its own, and it is faulty analysis to base a significant amount of your analysis of a particular chart purely on what another chart is doing. This leaves an analyst in a befuddled state when the seeming correlations disappear just as easily as they initially appeared. This is what is now happening to many in the financial world, as they scramble to figure out what is happening.
Elliott Wave Mad Libs
Editor's Note: I will be away in {major U.S. city} at the {financial noun} Show the rest of the week, so Sparky will be doing the update on Wednesday and Friday. See you next Monday!
The wave status remains {descriptive adjective} to us and shows {small integer} waves from the {name of month} low. The market has been in a {uppercase letter} wave pattern with a rare {geometric shape} terminal wave that is in the {superlative adjective} stage of completion (EWT, page {double-digit number}).
The explosive and unprecedented rally from last October is a {three lowercase letters} terminal wave. This is key since {ordinal noun} waves are always ending waves.
Sentiment has reached another extreme with over {high double-digit integer}% of respondents bullish, a level not seen since last {month name}. Measured in "real money" terms, equities have actually been in a bear market since 2000 ("real money" defined as the ratio of the Dow Industrials to the price of {noun of perishable grocery item}).
The rise in {noun: metal} has been a {three hyphen-separated single digits} wave, so it's most likely next move is {directional adjective}, indicative of a {ordinal} of {higher ordinal} wave.
We will keep you apprised as the waves continue to unfold and reveal themselves.
The Ides of March (by Springheel Jack)
I posted a chart last night on twitter that I'll start with today. It's a look at the very rare candlestick setup we've seen on SPX in the last two days, with the strong punch through the upper bollinger band on Tuesday, and then SPX opening and closing above the upper bollinger band yesterday. I have four instances of this happening since the 2009 low. Two marked a short term high and two were just a short way below. This is a respectably bearish setup and I've put the stats for what happened afterwards on the chart:
