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.
Crude Oil Could Lead the Way Lower
Failure Begets Failure
The Slope of Hope is The Truth.
The Powers That Be are Lies.
The bulls rely on delusion and bailouts.
The bears rely on integrity and clear-eyed skepticism.
The bulls want to rocket this market higher. They are trying.
Yet every breakout is being confronted by its own falsehood and fails.
I have ninety shorts. Zero longs. And many more shorts to come.
And any rally before us will disintegrate due to its own faulty foundation.
Gonna Drop Like a Stone
While you're waiting for me to find some interesting charts, listen to one of my favorite Talking Heads songs of all time. David Byrne, for me, is basically the George Carlin of music. Another patron saint.
NQ Wedge vs EUR Triangle (by Springheel Jack)
I'm still bullish this morning on the basis that we had a confirmed Vix Buy Signal for equities at the end of the last week, and that we haven't yet reached the 1243 SPX target on last week's diamond bottom. Having said that, the trend is down, and this rally is a counter-trend move, so any surprises are likely to come from the downside, and all bull setups have a higher chance of failing.
We didn't see any serious support levels broken yesterday on equities, but I'm more concerned than I was about the rising wedge on NQ, which is of reasonable quality. Rising support is at 2183 and an hourly close below that would look very bearish:
