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.

Pre-Stuffing Fib Check

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Happy pre-Thanksgiving to Slopers. To be clear, today is a full trading day, and Friday is a shortened day, closing three hours before normal.

I wanted to thumb through a few big cash index charts. In most of these cases, they have blown right past their Fibonacci extension targets (thanks to Powell’s QE4). These extensions are based on major high/low anchor points, and are represented by horizontal lines. Here is the Dow Composite:

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Will FAANGs Bite Back?

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The following daily chart of FNGU shows that price has broken above and retested a downtrend line.

FNGU is an exchange traded note that tracks 3x the daily price movements of an index of US-listed technology and consumer discretionary companies…the index is highly concentrated and equally weighted.

The next major resistance level is around 47.34 (61.8% Fibonacci Retracement level).

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