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.

What the Heccis?

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I have been living and breathing Slope all through the holiday weekend, implementing the new multi-level membership system, and I stumbled upon a SocialTrader I had sort of forgotten about named Heccis  – – what I remember so distinctly about this fellow is that back in early 2009 he sent me projections he had made about what the stock market was going to do, and it basically had predicted the financial crisis but then went on to show equity markets were going to soar. Idiot permabear that I am, I rolled my eyes at this and dismissed it.

Suffice it to say his prediction was true (which called for absolutely outlandish prices – – in other words, pretty much what happened). Early this year, however, he made some new posts, and let’s just say I was more receptive to them this time.

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What’s Next for Gold?

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Gold is taking a bit of a breather after earlier climbing to a new recovery rally high at $1220.70 in the December futures (GC), a full $53.60 and 4.6% off its August 16, 2 1/2-year low at $1167.10.In a very bullish set-up, gold (GC) should digest recent gains above the $1207 area, where the 5 DMA has just crossed above the 20 DMA. However, if $1207 is violated and sustained, then we should expect gold to press into a deeper correction of its $53.60 rally, towards the $1195-$1190 support zone, which MUST contain the weakness to avert a complete retrace of the August advance.

If either the shallow ($1207) or deeper ($1195/90) corrections unfold, the subsequent upleg will point to $1250.00.
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Additional Upside Likely for ES

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The Emini S&P 500 (ES) continues to stair-step higher, reaching my next higher target of 2853/56, and now in route to 2868/72. However, if we view all of the action from mid-July to the Aug 2 test of key support at 2791 as a failed head & shoulders top formation, then the subsequent up-move from 2791.00, which has climbed above the levels of both Shoulders at 2822-2825, and above the peak of the Head at 2849.50, now has an upside “failed pattern” target of 2885.
 
In my decades of experience, when a head & shoulders top fails to break the neckline, and then reverses to the upside, its target is measured by adding the distance from the head to the neckline to the top of the right shoulder. In this particular case, we arrive at a major target in the vicinity of 2885. (more…)

How High Will The Market Rally Before The Economic Collapse Begins?

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Last week, I wrote an article about how I view the potential effects of an economic collapse on American society. Unfortunately, many of our readers took it as an opportunity to post their perspectives on Trump and the democrats.

Yes, I know the country is exceptionally divided. However, I brought this issue to light not because I see one party as being the savior for this country over the other. Rather, I brought this issue to light to show you that we are on a path of history repeating itself, as we have forgotten the lessons learned from the pain of the past.

We all have to recognize that the United States took a big step down that slippery slope of socialism with the passage of The New Deal. Since then, it does not matter which party has been in power, as we have extended those socialistic policies when the masses thought it was “needed.” Thus, each generation since The New Deal has seen expanding socialistic policies. While you can argue whether you approve or disapprove of this progression, to ignore that we are on this path is foolish.

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Economic Combustion Powering SPX to Test All-Time High?

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A big-picture perspective of the S&P 500 (SPX) shows that the most recent up-leg off of the June 28 low at 2691.99 has climbed to a new high at 2816.25, or +4.6%.  In so doing, the SPX has hurdled its prior two significant rally peaks at June 13 (2791.47) and at March 13 (2801.90), positioning the index for upside continuation to my next optimal target zone of 2845-2860. 
 
Should such a scenario unfold, the SPX, in effect, will be climbing towards a test of its all-time high at 2872.87 from January 26 of this year. Only a break below 2789 will trigger initial signals that the June-July up-leg needs a breather.

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