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.
The Graph of Frustration
I think the market has decided to simply drive everyone, bulls and bears alike, completely out of their minds.
This chart of the /ES, not even the length of a day, captures it nicely. The bulls have a nice run-up, break out of the yellow consolidation pattern, and look ready to kick butt. The bears (including me) freak out and figure it's time to start getting on board. Then everything falls to pieces.
Added to which, the bears might say, "Phew! This countertrend rally is over! Time to rock 'n' roll!" But this is, by my measure, the three thousand five hundred and sixty-first time this "turnaround" could be declared in the past eleven weeks.
The bottom line is that it's getting very difficult to commit to either direction since both sides are getting faked out on virtually a daily basis.
The Rigorous Oversight at the Federal Reserve
Watch the whole thing. Honest. Please.
Hmmmm……
Having bought a goodly amount of USO early on Wednesday, this glance at the updated crude oil chart makes me a skosh nervous. USO looks great, but the run-up to that Fibonacci gives me the heeby-jeebies, technically speaking.
