Below are some major U.S. stock indexes augmented with CCI and RSI charts. They are all screaming “rolling lower”. Click any chart for a larger version.
Compelling Reversals
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.
Thanksgiving Rally Key Resistance
In my posts on 20th October, 24th October, and 28th October I was looking at the rising wedges on SPX, QQQ, DIA and IWM from the April lows and weighing the odds of these breaking down into a substantial retracement in the near future.
I was saying that these are all good quality mature patterns that I would normally expect to break down, but was concerned that we might instead see the start of a larger break up into December.
In my post on 7th November I was noting that all those wedges had broken down and gave some downside target areas that I was looking at initially.
In my last post on 20th November I was reviewing the bearish setups after all those initial target areas had been reached and looking at the larger H&S patterns that had since formed and were starting to break down.
(more…)Crypto Bull Market Likely Over
In my post on Wednesday 22nd October I was looking at the major support being tested on Bitcoin (BTCUSD), Solana (SOLUSD), and Ethereum (ETHUSD), and saying that sustained breaks below those support levels would boost the case that the bull market on Crypto had already ended, barring possible high retests as part of the topping process.
In my post on Thursday 30th October I was looking in detail at those key support levels on the weekly and daily charts and looking at the possible H&S patterns forming on the Solana and Ethereum charts.
In my last post on Tuesday 4th November I was looking at the H&S patterns on the Solana and Ethereum charts, which had started breaking down, and was warning that these big three Crypto instruments were on the verge of a clear break down that would likely confirm the end of the bull market from the December 2022 low.
(more…)Eroding Market
Here is a chart of the percentage of stocks above their respective 200-day moving averages. As you can see, the wooden foundation is seriously starting to rot.
The Bull That Didn’t Charge
In my posts on 20th October, 24th October, and 28th October I was looking at the rising wedges on SPX, QQQ, DIA and IWM from the April lows and weighing the odds of these breaking down into a substantial retracement in the near future.
I was saying that these are all good quality mature patterns that I would normally expect to break down, but was concerned that we might instead see the start of a larger break up into December.
In my last post on 7th November I was noting that all those wedges had broken down and gave some downside target areas that I was looking at initially.
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