Slope has become so complex, I often forget to use some of the cooler tools available here, such as the Market Meter on this page. I’ve got to say, I have never – – not even once – – seen the meter “pegged” so hard.
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.
I remember my father giving me an example a long time ago of the dangers of forecasting through extrapolation, and it was to imagine a man who had stepped off the top of the Empire State Building, and was overheard to murmur as he fell past the 51st story ‘So Far, So Good’. The point is that regardless of how well the first part of a plan develops, one always needs to consider the possibility that it may wander significantly off track by the end. We shall see how the rest of the plan for November develops. 🙂(more…)
With the exception of the first three weeks of the year, the entirety of 2019 has been completely cyclic for the small caps, as shown below in five charts of symbol IWM. I have applied a variety of overbought/oversold indicators, and cycle indicators, to these SlopeCharts, and I invite you to thumb through the gallery and draw your own conclusions about what’s most likely next.(more…)
As I was saying in my last post, SPX should be back into an upwards cycle by the end of October and that would be likely to end by the end of November. SPX has duly now made new all time highs and is likely to go higher. Let’s have a look at the most obvious target area.
On SPX the initial rising wedge from the 2346 low is likely expanding into a larger rising wedge. Rising wedge support is now therefore in the 2915 area. The obvious overall target would then be the original rising wedge resistance, now in the 3110 area, and due to be in the 3130 area by the end of November. I would note the interesting fibonacci relationship here, in that if you take the move from the December low to the June low, and then add the same again to the June low, then the sum is 3111, which strengthens this area as a swing high target.(more…)
Endless trendless. Up, down, up, down. Call it what you will. But for many financial instruments, 2019 has been a cyclic grind. I think the Transports do a great job illustrating this, particularly when see with the CCI and %R:(more…)
As strong as stocks have been lately, one particular group which has shown Herculean strength has been homebuilders. One ETF in particular, symbol ITB, has made a habit of making daily highs. Looking at the Bollinger Bands, however, we would seem to be, shall we say, stretched to the upside.(more…)
Further to my post of September 29, this is simply a quick update to show directional movement and money flow for the first week of October for:
- the SPX
- the World Index excluding USA
- the US Dollar
- 30-year Bonds
- Gold Futures
In a nutshell, trading was choppy in all of them, but some minor gains were made in Bonds and Gold, while further profits were taken in other world markets.(more…)