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.

Greek Referendum Plunge (by Springheel Jack)

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There's little appetite for austerity in Greece, as we've all been seeing from the intermittent riots over the last few months. The Greeks announced yesterday that they would be putting the latest Euro bailout and greek partial default plan to a referendum and obviously the plan may get rejected. I have found no date for this proposed referendum looking round this morning, so this bump on the road may affect markets for quite a while yet.

Kudos to my friend Alphahorn for calling the high and going in heavily short there. He's given me permission to post his current primary count after yesterday's bearish break and he is expecting new lows from here on that count:

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Breaking Trendlines (by Springheel Jack)

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I was watching three key levels on SPX, NDX and RUT yesterday and they all broke up. NDX broke up fairly early in the session and the others at the close. EURUSD also broke the declining resistance trendline, and ZB broke the rising blue trendline from yesterday morning's chart and has been testing strong support in the 142 area overnight. These were all significant breaks and as a group they strong suggest that this rally has further to go, though at over 90 ES points up at the close yesterday from the Tuesday morning low, we might be seeing some retracement sooner rather than later.

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