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.

Bulls Follow Through

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The first week of July was really about the upside following through based on the overall rounding bottoming pattern and temporary low setup at the 2693.25 low from the last week of June. The market was able to cement the status of temporary low from June, and had a decent “stick save” on Monday July 2 at the 2698.5 lows before closing at the high of the day around 2726 to cement another higher low.
Fast forward, the market tested the key 2740-area resistance for the 3rd or 4th time time later in the week, and was pretty much destined for the breakout like we expected. If you recall, the 2748 and 2758 prior highs level got blown out of the waters on Friday when the acceleration began since the bull train erased all doubts in the minds of traders. Overall, it was a fairly easy week because we’re definitely back in the aggressive BTFD (“buy the f’in dip”) regime as it worked very well for the majority of the week.

The main takeaway from this week was that the weekly candle was able to wrap up its bullish marching band at the highs and it’s a large bull bar. All the trapped bears and bull chasers are now in a vicious cycle on getting squeezed and rushing back into playing the game of BTFD as long as trending support holds for the immediate short-term play. (more…)

This is It for Gold

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by Avi Gilburt, ElliottWaveTrader.net

For those that follow me regularly, you will know that I have been tracking a set-up for the SPDR Gold Trust ETF (NYSEARCA:GLD), which I analyze as a proxy for the gold market. I also believe that gold can outperform the general equity market once we confirm a long-term break out has begun, and I still think we can see it in occur in 2018. This week, I will provide an update to GLD.

While I have gone on record as to why I do not think GLD ETF is a wise long-term investment hold, I still use it to track the market movements. For those that have not seen my webinar about why I don’t think the GLD is a wise long-term investment, feel free to review this link for my webinar on the matter.

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Is It 2016 Again For U.S. Equities, Emerging Markets And Gold?

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By Avi Gilburt, ElliottWaveTrader.net

Bears seem to be roaming wherever you look, whether it be in the US equity market, the gold market, and especially in the emerging markets as of recently. Whether I read articles, or the comments to those articles, it seems there is a common expectation that “emerging market dominoes are falling” and it will “cause deleveraging and contagion” across portfolios worldwide.

It certainly sounds like a dire situation is developing in the world today. Does it not?

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There Is A Lot Of Financial Pain Coming For The United States Of America

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By Avi Gilburt, ElliottWaveTrader.net

For those of you that have followed me through the years, you would know that I utilize Elliott Wave analysis to track the markets I follow within the context of both their smaller and larger cycles. And, to that end, you would know that I am neither a perma-bull nor a perma-bear. Rather, I see the market as it is, and not as I believe it should be.

For example, when everyone was getting very bullish in late 2015, I warned that we were setting up for a drop from the 2100 region back down to the 1800 region. Yet, I also warned that investors should not get too bearish, since that pullback will set the market up for a multi-year rally pointing to 2600+ in the SPX.

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Is It Time To Just Sell All Your Gold?

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For those that follow me regularly, you will know that I have been tracking a set-up for the SPDR Gold Trust ETF (NYSEARCA:GLD), which I analyze as a proxy for the gold market. I also believe that gold can outperform the general equity market once we confirm a long-term break out has begun, and I still think we can see it in occur in 2018. This week, I will provide an update to GLD.

While I have gone on record as to why I do not think GLD is a wise long-term investment hold, I still use it to track the market movements. For those that have not seen my webinar about why I don’t think the GLD is a wise long-term investment, feel free to review this link for my webinar on the matter.

Now, to answer the question I presented in the title to my article, I will simply say HECK NO! In fact, now is the time you want to be setting up your long positions, as we have a reasonably low-risk set up presented before us.

Over a week ago, I wrote my most recent public article on GLD, wherein I presented my general perspective, which was outlined in much more detail to our members, with specific charts:

“As long as the GLD remains below 126, I still see the potential for it to test the 122/123 region.” 

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