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.

The Big Picture on Bonds

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I’m going to be taking a careful look at bonds today but first I’ll look at the position on SPX after yesterday’s retest of broken triangle support.

On the SPX daily chart we saw a bounce to test the daily middle bollinger band and then a reversal to retest the broken rising wedge resistance trendline from 2011 that has been holding as support this week. It’s worth noting that yesterday’s low was only four points above the daily lower bollinger band so I’m counting that as a technical hit and we could well see a bounce from that hit of a key technical support level. SPX daily chart: (more…)

Possible Double-Top Formed

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Sometimes it just isn’t your day. I just spent an hour writing a post and selected it to copy it over to Slope of Hope when I hit the wrong key and deleted almost the whole thing irrecoverably (Editor’s Note: I feel your pain! Thank you for doing this twice!). Unusually I have to leave soon and will be out much of the day so I am going to rewrite this as a shorter post as quickly as possible. Excuse the very brief comments. (more…)

The SPX Broadening Ascending Wedge

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Most days recently I’ve been posting a rising channel from the 1536 low, and I posted on twitter yesterday that channel resistance was hit at 1684.6 and there was leeway for a push through to 1685/6. I was frankly irritated when SPX then reached 1687.18, which was a clear breach of my channel resistance trendline.

I have commented before though that sometimes we see a pinocchio through a smaller pattern or channel trendline to reach a target trendline on a larger pattern, and with that high yesterday the pattern from the November low has finally been clarified. That pattern is a perfect broadening ascending wedge, and you can see that on the SPX 60min chart below: (more…)