I know that Apple (AAPL) is the holiest of holies when it comes to stocks, but I’d at least like to point out what’s going on not only with the price but also with the dwindling volume.(more…)
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’ve got a couple of improvements to SlopeCharts to mention.
First of all, intraday SlopeCharts now work with Macintosh. That may seem like an odd thing to announce, but, frankly, they’ve never worked on a Mac until now, so I wanted the handful of Mac users out there to know we got this bug fixed! You will kindly take note of the Apple logo in the upper left corner:(more…)
On Friday afternoon, I proudly announced that SlopeCharts now have the VWAP study. As pleased as people were to hear that, it took them about 9 seconds to make a request: “Give us standard deviation lines!”
Fast-moving sumbitches that we are, we actually made that happen Friday evening! I am therefore doubly-pleased to re-introduce the enhanced VWAP study:(more…)
Perhaps the most frequently-requested feature on Slope for as long as I can remember has been the Volume Weighted Average Price, or VWAP. As I had explained countless times, we simply didn’t have access to the data. Now we do, and it’s live right now in SlopeCharts! You’ll find it in the Technical Studies dialog box.(more…)
In my last couple of posts I was writing about the rally scenarios on SPX and was saying that the recent lower high on SPX increased the chance that the retracement from that high was to finish forming a bull flag that would then break up into a minimum target at a retest of the rally high. The close last Friday back over the daily middle band was a pointer that SPX might be breaking back up, and that has followed through into a retest of the rally high, so that bull flag has broken up and played out. So where does that leave SPX now?
Well the first thing to say here is that the economic situation is not improving. The chart below is the Atlanta fed GDP forecast for Q2 2020 and at the moment that is looking like an expected Q2 2020 GDP in the -32% area. That is dire and it would be tempting to say that it is just deranged to think that stocks can head much higher in this environment. That said though, making money on stocks using economic fundamentals analysis has always been a chancy business and, while new all time highs directly from here look very ambitious, we could well see SPX go a bit higher before economic gravity drags SPX down to the lower lows that history strongly suggests will be coming in the next few months.(more…)
The following daily, weekly and monthly charts of the four U.S. E-mini Futures Indices show that they are at the emerging edge of chaos [which is defined by three future-offset moving averages (green 5MA, -3), (red 8MA, -5), and (blue 13MA, -8)].
In all of these three timeframes, the NQ is the strongest and is the most favoured to continue its rally, while the ES is next, followed by the YM and RTY.
In the short term, watch for all three of the moving averages to curl upwards on the daily timeframe (with the green above the red above the blue), and for price to break and hold above all of them, to confirm that a sustainable rally is supported.(more…)