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 Monthly, Weekly, and Daily Stochastics cycles are shown on
the charts below of the 6 Major Indices. Also shown on each
chart are Bollinger Bands, and the 50 (red) and 200 (pink) smas.
However much I want to believe that it is a top and the road
is down, I am not jumping the gun yet. Yes it is topping but even with this 1%
drop (wow!) (how come Ben?) we do not have the sell signal yet. Remember that
chart of Presidential Election Cycle from Bespoke? Here it is for your ready
Further to my post of September 15th, and further to Caterpillar Inc's
projections today (Tuesday) for economic growth to be anemic through 2015, if
the Russell 2000 (as represented by its E-mini Futures Index, the
TF) grew at an anemic rate from here through 2015, we may see price hit
950ish by October 2015 if price remained above the 60%
Fibonacci fanline (broken green line) and closed where it meets the first set of
External Fibonacci and Fibonacci Extension confluence levels, as shown on the
Monthly chart below.
BREAKING DOWN THE TRANSPORTS
I've been watching the transports closely since FedEx (FDX) and Norfolk Southern (NSC) both lowered earnings expectations last week. The transports chart ($TRAN) looked weak, but today's action including the big rollover into the close caused me to want to put a chart up for your examination.
I am down to only 47 shorts, and I've even got a few longs (including – brace yourselves!! – FB and Z). My commitment level is 47%, with the only sizeable short being TLT. A bounce to around 1438 makes sense, at which time the gloves come off.