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.

Thrust THIS

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Let us think back to Slope’s darkest days. That would be, oh, about 48 hours ago. Those were grim times. The bulls seemed to own the market again. Bears had been beaten across the face fairly consistently since October 13, 2022, a day I shall remember until my last breath. Sentiment on Slope was turning fiercely anti-bearish and, God forbid, even anti-Tim. And, as always, people came out from the woodwork claiming that, being better than the rest of us, they were never bearish nor bullish, Nay, nay. They simply made money, no matter what. Every single time. Thus pitying us poor saps who actually had an opinion. And, as a topper, they trotted out some retired money manager in his 70s who had created some weird-ass arithmetic hack called the Whaley Breadth Thrust which was supposed to be God’s gift to investors and was correct 100% of the time, even though it sounded like it was taken straight from the Kama Sutra. Thus, they claimed, a New Bull Market was here, and bears were about to get destroyed, as they most deservedly should be.

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Friday The Thirteenth

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I mentioned in my post a week ago that on a break back over the daily middle band there were fixed buy signals on the daily and hourly charts that might carry SPX significantly higher and so it was, with SPX hitting 3997 at the high yesterday, and those buy signals have now all made target. I’m looking for signs of a high forming, and there are some signs here.

There is no negative divergence on the daily chart here yet, so I’m thinking we might see a sharp retracement here back into the daily middle band, currently at 3868, then retest the high to set up a possible double top.

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Super Elevated

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It’s been nearly three hours since the CPI report came out, and the market just doesn’t know what to do with itself. As I am typing these words, the /ES is unchanged, the /NQ is down, the /RTY is up, and every one of them looks like an EKG printout. Lest you think that the market is a bar-goon right now, kindly look at the percentage of stocks above their 200-day moving average. It’s awfully damned high:

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