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.

Twenty-One

By -

The past few days have provided a much-needed relief rally to the market as a whole. Across a wide span of financial assets, a quick and powerful upsurge has sprung prices from the depths toward what I perceive as vitally-important zones of resistance. These take the form of price gaps, Fibonacci resistance levels, or simple horizontal lines, but in each case it will take very little to complete the trip to these exhaustion zones (or, if you’re inclined to be bullish, the same charts show that it wouldn’t take very much to violate these levels of resistance and put even more wind into the bullish sails).

Below are twenty-one ETFs I believe illustrate this succinctly. I’ll share a few words preceding each chart to summarize why I think it is at a meaningful price juncture.

We start with the commodities fund, which re-penetrated its descending price channel and formed a small rounded top. The war in Gaza pushed oil prices strongly higher, but the price gap caused between Friday and Monday is close to being sealed. Oil is the biggest component of DBC.

(more…)

Sub-Gap

By -

Not exactly an unrestrained plunge, is it? I don’t feel so bad about being so light, since here we are, at the cusp of World War III, and the /ES is down 0.29%. Take note, however, that at least the big equity futures have all stayed persistently beneath their price gap, which was created between Friday’s close and Sunday’s open. If I may say so, I hope it stays under this gap across the board!

(more…)