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.
Beware Of The Balrog
Last week I was looking at the decent looking resistance trendlines and growing mass of negative RSI divergence on both SPX and NDX. Over the course of the last week first the SPX resistance trendline broke, though this could still be a bearish overthrow, and then the daily RSI 14 sell signal failed on Friday, and then the SPX RSI 5 sell signal failed yesterday. That is very unusual and does not favor a significant high being made here.
SPX daily chart:
When To Sell Nvidia
Bitcoin Low Here?
I was saying on Wednesday that I was likely to do a crypto post at least once a week in future, and here is the first, as crypto is looking very interesting today.
I’ve been covering BTCUSD, ETHUSD & SOLUSD every day in my premarket videos but haven’t actually done a post on crypto before so those are the three I cover in detail,
Of those three obviously Bitcoin made a big new all time high in March and since then has been consolidating, with three close to that high retests in April, May and June, and then making a new low for this consolidation this morning.
(more…)There Is No Spoon
It has been a few weeks since my last post, as I’ve had a lot of stuff to sort out. That’s pretty much done & I have returned.
As it happens, this doesn’t look like a bad time to be coming back. My speciality is patterns and reversals and we have some nice patterns and potential reversals forming on NDX and SPX here. They might just deliver yet another break up, but for now we have a decent looking inflection point, and what might be a pretty decent reversal brewing here.
On the bigger picture I was saying at the start of the year that presidential election years in the US tend to lean bullish, and that has certainly been delivering so far in 2024. I’m not really expecting that to change, and if we do see a retracement here, I’d be leaning towards that being a bullish retracement, with at minimum likely all time high retests to come after that completes.
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