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.
IWM 50% Retracement
Well, here's a "to-the-penny!", but kind of a sickening one. I've drawn a retracement between the two Fibonaccis that establish the extreme range between last July (when the fun began) and this March (when the fun ended). Interestingly, today's IWM precisely touched the 50% mark. I'm sort of losing hope that it'll mean anything. But, FWIW………
The volume is MINUSCULE today, in spite of the *%^#(*#)*)%(# huge rally.
Strong Stocks, Weak Oil
This morning's CPI number gave the bulls a sigh of relief, and the markets opened solidly higher. As of this writing (only 20 minutes into the open), the IWM has solidly closed the gap it created back on January 4th. By the time you read this, it may have soared past that horizontal resistance line. The Dow is already up into the triple digits. Fun, fun, fun.
By contrast, gold and (more so…) oil are weaker as of this moment. I guess the feeling that's starting to spread is that if oil falls, that will be a great catalyst for equities to explode higher. In other words, expensive oil is the only thing holding them back. I am thus highly concentrated in oil-related shorts and avoiding index plays.
