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.

Important Symmetry Video (By eMiniSchool)

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When we look at the market we are always seeing if we are inside or outside of symmetry. It is important to know if the symmetry support is above the .618 the market can break symmetry to fall down into the bigger support and still be bullish. It is also important to see if we are still inside of symmetry before trying to pick the top of the market. You will see in the video how calculated the markets have been since the 09’ low.

Some traders think that what we do is too “Voodoo” and it has no meaning. The thing is as traders we do not have to be 100% fundamental or 100% technical. In my view the market is 90% technical and 10% fundamental but that is just my opinion.  

I have seen the market turn too many times at symmetry support and resistance to ignore it. I have found that the people who do not believe just are not informed on the subject, just like anything in life.  I hope the time we put in on the blog can inform you so you can look for yourself and the stocks you own to make the best decision you can before pulling the trigger on emotions.

Earlier today we did a post on the corrective symmetry and so far that has been the low of today. This does not mean it is the absolute low but it is an important low going forward a few days.  

Corrective Symmetry Video from earlier today: http://wwweminischool.wordpress.com/2011/08/01/corrective-symmetry/ 

Happy Trading,

eMiniSchool.com

NQ Symmetry (by eMiniSchool)

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7.31Slope 

There is something to keep in mind going into next week and that is the symmetry of the market. Symmetry is the true support and resistance of the market. We get the symmetry buy using Fibs on each leg of each pattern.

From the March 09' low the symmetry of the NQ and TF has been only .382 which is on the faster side of the equation. You can see this by looking at a weekly NQ chart and you will see the pullbacks have been shallow in price and time.

The chart in this post is the 60 minute and you can see the .382 is still in play two times within the last wave up (Still Bullish)

We know there is a lot of news flow right now but it is important to look at the charts to see if the pattern is broken and so far the pattern is not broken to the upside. Of course patterns can fail but we stay with the pattern and direction until we are proven wrong and so far we have been rewarded in buying the dips and that condition is still in play.

There are two degrees of the pattern the major and the minor. On the NQ the major .382 support is 2325.59 and the minor .382 is 2337.14. When you look at the chart now they will seem like obvious support levels the key is to know the symmetry support before the level is hit so you we can get back in the long trade.

To see the weekly and daily levels we posted a video on July 5th here:

http://wwweminischool.wordpress.com/2011/07/14/nq-symmetry-382/ 

In that post there is a link to a video explaining what we were looking at and that condition is still true right now.

Happy Trading,

Sean

PS. This is pattern and patterns can fail but as of right now the pattern is still true and we are looking for targets of 2476 to 2500 on this next leg.