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.

Crypto – If Not Now, Then

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Last week I was writing about the solid short setup forming on Crypto and have been looking at it every day in my premarket videos. That setup has played out now, all the daily sell signals I was looking at on BTCUSD (Bitcoin), ETHUSD (Ethereum) and SOLUSD (Solana) formed, fixed and have now made their full targets at the 30 level on the daily RSI 5.

So what now? Well we’re seeing a rally today which I was looking for on yesterday’s premarket video, and a likely backtest of key resistance is coming. On Bitcoin that resistance is at the daily middle band, currently at 62,604. A break and conversion of that to support opens the upside.

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Nice Looking Short Setup on Crypto

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I was looking at the nice short setup on Crypto earlier this week and both BTCUSD (Bitcoin) and SOLUSD (Solana) then broke back over the very obvious resistance at the 200dma. The obvious question is whether this is a break up and possibly that might be the case, but it doesn’t look like it.

A weak RSI 5 daily sell signal has fixed on ETHUSD (Ethereum), and a full daily RSI 5 sell signal has fixed on Solana. These have a solid history of making at least the minimum target at the 35 level on the daily RSI 5.

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Equities In the Big Inflection Point

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In my post last week I was looking at the big inflection point here on equity indices, and they are still in that inflection point, though there have been some developments since which I’ll go through today.

I use the $SPXADP daily chart as one rough and ready guide to where there might be a retracement or consolidation coming on SPX, and that hit the key upside level at 30 on Friday. There are 11 previous hits of 30 on the chart below (red dotted vertical trendlines), and all of them signaled either a retracement starting within a couple of days (seven instances) and/or a sideways consolidation lasting at least two or three weeks, so it is likely that we will be looking at that again here.

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Nice Looking Short Setup On Crypto

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There is a decent correlation between the trends on equity indices and Crypto, as I’ve mentioned before, and we are seeing a small but significant looking inflection point on both of them today that I was looking at in my premarket video on Crypto today.

The chart below shows one of my SPX daily charts with SOLUSD in the background. You can see the possible small double top setup on SPX here, and I have a similar setup on SOLUSD (Solana) and BTCUSD (Bitcoin), both of which I will be showing further below. The correlation isn’t perfect, but it is strong.

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A Steady Year

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The bulls have owned this market for almost a solid year. Well, let’s be honest: they’ve owned it since March 9, 2009. It’s jaw-dropping when you think that in 2009 that S&P 500 was about ONE-TENTH the value it is today. Honestly. In any case, the trio of exponential moving averages for the past year has been gently slipping higher, without even the remote threat of a bearish crossover ever taking place.

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