Daily Archives: January 28, 2018

Instant Karma? Instant Trendlines!

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I am de-diddly-de-lighted to announce yet another awesome feature in my beloved SlopeCharts platform: Instant Trendlines!

“But wait a moment, Tim! You already created Automatic Trendlines for your beloved PLUS users. What’s the deal?”

Well, thanks to a suggestion from one of SlopeCharts’ fans, this is something totally new. The user wanted to know if we could make trendlines show up automatically without him having to ask for them. We gave it some thought and have developed a beautiful new addition for PLUS users, who already enjoy the automatic trendlines feature. Here’s the new checkbox:

display (more…)

U.S. High-Yield Corporate Bonds ETF in Jeopardy

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The High-Yield Corporate Bonds ETF (HYG) is in jeopardy at major resistance.

The monthly chart below shows that price is facing double resistance at the confluence of a 60% Fibonacci retracement level at 89.29 and the upper edge of a large triangle formation (both of which began forming during the 2007/08 financial crisis to the 2009 lows).

Major support sits below at the confluence of the 50% Fibonacci retracement level at 83.98 and the triangle apex around 83.30.

The momentum indicator has dropped below the zero level on this timeframe, hinting of more weakness to come, as has been the case, historically. (more…)

True Believer Syndrome

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I’m going to start with a tale from about 180 years ago. In the early 1840s, a religious leader named William Miller believed the second coming of Jesus was foretold in the Bible with mathematical accuracy, and using a myriad of verses and tidbits from the Bible, he sought to compute as closely as possible when exactly J.C. was going to come back.

prophetcy

At first, he didn’t offer anything very exact:

Using an interpretive principle known as the day-year principle, Miller, along with others, interpreted a prophetic “day” to read not as a 24-hour period, but rather as a calendar year. Miller became convinced that the 2,300-day period started in 457 B.C. with the decree to rebuild Jerusalem by Artaxerxes I of Persia. His interpretation led him to believe and promote the year 1843. Despite the urging of his supporters, Miller never announced an exact date for the expected Second Advent. But he did narrow the time period to sometime in the Jewish year 5604, stating: “My principles in brief, are, that Jesus Christ will come again to this earth, cleanse, purify, and take possession of the same, with all the saints, sometime between March 21, 1843 and March 21, 1844.” (more…)