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.

Three on the Move

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Three stocks that had been digesting recent gains now appear to be on the rise again.

ArQule, Inc. (ARQL) gained 42 cents to $7.17 on 2.6 million shares Tuesday.  The move, on more than 1/2 times its average volume, came on no news from the biopharmaceutical company.  The stock broke out of a month-long wedge pattern last week and backed off before Tuesday’s move.  It edged above resistance at the July high of $7.21 intraday.  A follow-through could get it to $8.50 next.

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Three Day Rule Target At 2801 Retest

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SPX broke back over the 5dma last Thursday and that put SPX back on the Three Day Rule, which is that after a decline of more than 2% followed by a break back over the 5dma, then SPX must hold above the 5dma the next two daily closes. If SPX fails to manage that then the retracement low (2801) should be retested before the initial high before the decline (all time high). The close on the third day on Monday was a clear break back below the 5dma. That low retest would normally be soon after the break and this a very strong stat, so I am looking for that 2801 retest.

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Quintet of Quick Links

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In two days, we’ve gone from zero Slope Links in SlopeCharts to five, and more are coming. I’ll let them speak for themselves about their purpose:

If there are other functions you want with one-click access, drop me an email. There’s a steady drumbeat of product improvements on the way. Incidentally, I heard from some folks that use Firefox and Internet Explorer that the Market Meter dial was misbehaving for them. No more! It’s all fixed now.

Boundaries that Count

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In spite of what seems like a pretty ugly trade war, the market is strong and tightly range-bound. I wanted to update some major cash indexes to illustrate some important zones of support (magenta) and resistance (green). The bulls get the upper hand (or hoof, I guess) if the green breaks, whereas the bears get the upper paw if the magenta fails. As always, click on any chart for a much larger version.

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