After today’s (Friday’s) 53.5 point drop on the SPX, volatility has now fallen back into the “Major Conflict Zone,” as depicted on the following 20-Year Monthly ratio chart of SPX:VIX.
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.
Take a Seat
Volatility’s Glorious Return
Today is the biggest down day since Brexit. Good God, it’s been a dry spell, hasn’t it? I have 70 short positions. As of this typing, 68 are profitable.l I suspect those other two will be addressed in short order.
In the Blink of an Eye
Well, it seems that the immoral, unethical, armpit-sniffing, crotch-grabbing, child-pornography-watching creatures known as Stock Market Bulls have had at least a few hours of suffering to contend with, as the entire lift from the past 5 days has been blown to hell in no time at all. What’s crucial is that this range on the Dow Jones Composite be broken to the downside. Otherwise, we’re just going to remain in a range-bound hell, which is altogether likely, considering the utterly contrived and captured market we are dealing with.
Death to Yellen. Death to the Fed. May Slope Plus members reign supreme forever. Amen.
Testing Support and AAPL Revisited
I wasn’t planning a post here today but I have more time than I expected this morning, and I didn’t manage to do the AAPL post I was planning yesterday, so I’m going to combine them both into a single post here this morning.
I’m rolling into the December contract over the weekend, so if you’ve rolled already then I’ve put the spread between the September and December contracts on each of the ES, NQ & TF charts below. All three charts were done and posted last night for subscribers at theartofchart.net.
At the time of writing all the key support levels that I was looking for at the time I did these charts are being tested. ES has made the 61.8% fib retrace and is testing the monthly pivot at 2168 (2161.5 on ES Dec). NQ has made the double double target at 4783, and is now testing the monthly pivot at 4763 (4759 on NQ Dec). TF has made the obvious 38.2% fib retrace at 1249/50 (1245 on TF Dec). These are big support levels, and given the timing on the cycle windows I’m expecting a reversal back up to new highs here.
