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.
Knock On Wood
I was talking to a trader friend about resistance levels a few years ago and I remember him saying to me that the more often you knock on a door, the more likely it is to open. In effect what that means that however strong a resistance level is, and however often an index may fail there, if it keeps returning after each failure, then sooner or later it is likely to break up, and that may well be what we have been watching here on SPX.
We don’t have a confirmed break yet, but SPX closed May significantly over the monthly middle band, and so far today has been pushing through the main support/resistance trendline from the 2009 low. If that breaks and converts to support, then the path would be open for a possible retest of the all time high.(more…)
Tesla Challenging the Wall
Well, today wins the worst day of the week for me. While I wait out the storm, I’ll share with you the updated chart of Tesla (TSLA) which, like everything else today, is up.(more…)
Summer Fed Spread
Normally, I provide the Slope “Fed Spread” (explained in deep detail here) only to my beloved Gold and Platinum members each Thursday afternoon. Today I’m going to open up the kimono and make this a public post, partly because I feel bad there’s so much premium content lately, and also to tantalize you with the fact that the Fed Spread is going to get WAYYYYYYYY more interesting following the debt ceiling compromise, and I, for one, plan to hang on to every morsel of data slavishly throughout this summer as my principal source of guidance.
You might want to, ya know, sacrifice a latte or two each month and send Slope your money instead. I daresay it might pay for itself a gazillion times over. Up to you, of course. You and your sense of decency. So let’s move on.(more…)
General in Full Retreat
Good Lord! Take a look at Dollar General (symbol DG). I don’t think I’ve ever seen a cleaner channel pattern in my life, and this thing has lost nearly 50% of its value as it has careened from top to bottom. I’ve never understood the success of this place. I’ve never been inside one, but I suspect it’s just about the most depressing place in the country.(more…)