Daily Archives: May 25, 2017

Indexes Galore!

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I am DE-LIGHT-ED to tell you that SlopeCharts has high quality index data now. The charts remain free of charge, although I actually am paying for this index data out of my own pocket. Lovely guy, eh? In any case, here’s the list of indexes. Ignore the symbols – – a lot of them are wrong – – and anyway you’ll already find them pre-entered for you in a watch list called INDEXES. Some of the data goes back for many decades. Enjoy! Oh, and if you’re on the fence about subscribing to Slope Plus, you might want to do it now. I’m going to be cranking up the price very soon, and unlike the olden times, I’m not giving any warning about it.

All Ordinaries Index: $AORD
Amsterdam Midkap Index: $AMX
Argentina Merval Index: $MERV
ASX 200 Index: $AXJO
Austrian Traded Index: $ATX
Brazil Bovespa Index: $BVSP
Bursa Malaysia Klci Index: $KLSE (more…)

Snapshots

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Just a quick post as I’ve been fighting the clock all day today, with a review of the pattern setup on SPX/ES, NDX/NQ and RUT/TF with the break over resistance last night.

On SPX the short term pattern from 2352 is a decent rising wedge. Wedge support currently in the 2410 area and a 15min RSI 14 sell signal fixed in the last half hour today. At the close a possible small double top forming looking for 2405/6 area on a sustained break below 2411.83. SPX 15min chart:

170525 SPX 15min

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Constructive Progress

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The star of today is, naturally, crude oil — and what a wild ride is has been! I came into the day long (VERY long……..) both DRIP and ERY. They started off well, and then they went into a free-fall which was, umm, a little disconcerting. Mercifully, I didn’t get stopped out, and they have turned around nicely. Take note, for instance, of the well-formed cup with handle pattern that has completed with ERY, shown below.

0525-ery

Bitcoin Now in SlopeCharts

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The improvements to SlopeCharts have been happening so rapidly lately, I need to catch up with some posts about them (as well as update the documentation). But I’ll mention quickly that the symbol $BIT will now present to you the Bitcoin chart, which is causing puzzlement and red eyes to all the gold and silver “stackers” around the world. Anyway, lots more to talk about with respect to SlopeCharts, but I’ll do a post tonight when I have more time.

0525-bit

PHEW!!

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I don’t think I let myself know just how nervous I was about the OPEC announcement in the wee hours of this morning (my time). When I woke up, however, it took me about one second to grab my iPad from the side of my bed, fire it up, and look at crude oil. I was massively relieved to see that, quite obviously, whatever OPEC had to say did not thrill the market. (The “whatever” turned out to be a 9 month extension to their cuts, as opposed to something more dramatic).

0525-crude

I have a very substantial long position in both DRIP and ERY (the triple-bearish energy ETFs) as well as a scattering of energy shorts. I think this is going to be OK.