Over the course of just fourteen trading days, the market has added thousands of points to the Dow and hundreds of points to the S&P 500, virtually without interruption:(more…)
Slope of Hope Blog Posts
This is the heart and soul of the web site. Here we have literally tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. You can also click on any category icon to see posts tagged with that particular category.
Although I’ve mentioned 2600 many times, I hope the asterisk I kept declaring was also heard. Specifically, that the mere crossing of 2600 to the upside does not mean we all throw up our hands and give up. I think a figure of 2626 is a little more on-the-mark, and even then there’s wiggle room. Of course, we can’t keep “wiggling” to 3,000, so I’ll put a stake in the ground and say 2626 has more meaning than 2600 did. Please take note of my updated chart below, particularly the “You Are HERE” arrows.
As a lifelong lover of Broadway musicals, I was sad to see Carol Channing leave us at the ripe old age of 97. Here’s a favorite song of mine from her most famous musical (featuring none other than Charles Nelson Reilly).
Throughout my life, there’s typically been one person who decides how much I get paid; me. Since so much of that time has been involved in starting up a small business, oftentimes my salary – – if you want to call it that – – was just minuscule.
I remember quite well in 1993 that I was only able to pay myself $1,000 per month. Let’s just say that was a challenging time.(more…)
I wanted to show a chart within a chart which is quite interesting: below is the long-term ascending channel of Apple. Present price levels would suggest it is a relatively bargain. However, take a good look at the inset, which represents the price action of the tinted zone. See how it was repelled at its price gap? (This is the price gap created by Tim Cook’s warning about their forthcoming earnings). Simply stated, if AAPL breaks this channel, it’s a whole new ball game for the former trillion dollar company.
I’ve mentioned the Pier One analog countless times, and it certainly seems to be repeating its Financial Crisis Disaster beautifully:(more…)
I last wrote about the FAANGs and FNGU and what I was monitoring in my post of November 4, 2018.
2018 was the year we saw the FAANGs form bearish shooting stars. Each candle on the following charts of FB, AMZN, AAPL, NFLX and GOOG represents a period of one year (absent on these charts is 2019’s candle, as I’ve left it off to illustrate last year’s weakness and volatility compared with prior years in these stocks).
You can see, at a glance, that FB is the weakest of the five, as it has erased almost all of its 2017 gains, as well as its gains last year.(more…)
In the video below before the open this morning I looked first at the clear bear flag rally patterns developed on ES, NQ, RTY, DAX and ESTX50, then SPX, NDX and RUT. That’s a lot of bear flags and while these don’t always break down, they usually do and the odds favor that again here. None of these have broken down yet apart from a slight break on ES rising wedge support, and if we see confirmation with a break and conversion of the ES weekly pivot at 2572.50 to resistance today or tomorrow then I’d expect all of these bear flags to start breaking down with likely minimum targets at a retest of last month’s low. Full Premarket Video from theartofchart.net – Updates on ES, NQ, RTY, DAX, ESTX50, SPX, NDX, RUT, CL, NG, GC, SI, HG, ZB, KC, SB, CC, ZW, ZC, ZS, DX, EURUSD, USDJPY, USDCAD & AUDUSD:(more…)
How hard can it be to make a huge monopoly succeed? Not as easy as it looks, I guess. Here’s the woman who was paid $8 million per year to do just that: run a business selling electricity and gas to a captive audience in the most populated place in the country:(more…)