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.

Weighing The Options For Equities

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I posted the SPXADP chart a few days ago, and since then it has punched above the 30 level on the chart. What does that mean? Well about 50% of the time that means that a short term high is very close, sometimes for a serious high, but more often just a retracement that would look for close to or at the -25 level on the chart. The rest of the time would be continuation, sometimes into a short term high not long after, but often just a move higher.

A double punch above the 30 level, as we may see that here, would strongly favor retracement or at least a period of consolidation in the weeks afterwards.

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NOW You Can Get the Marshal

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Last time, I saw some very apocalyptic tweets about how the market was going to crash today. I didn’t feel this way. My response to the NVDA news wasn’t exaltation but RELIEF. So long as the sucker didn’t gap up 20 points, I was a happy guy.

Yet, I saw the at Wednesday’s close, the market was pretty oversold, and a bounce was in order, and a bounce on the /NQ was precisely what we got and EXACTLY where I hoped it would go.

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Big Tech, Big Top

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I know, I know. It’s all up to NVDA. I get it. And it’ll just be a few more hours until The Most Important Report In Human History is out.

I will say, in the meantime, that the four-hour bar chart on the /NQ futures looks awfully encouraging. Of course, the bears could get completely ripped-off and have this sucker explode higher with some crazy NVDA report. Let’s face it, all the tech giants are buying billions of bucks worth of NVDA chips, and there’s only one game in town. So there’s no reason NVDA is doing anything but great revenue-wise.

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