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.
VIX Signal is Not Bullish
As noted yesterday,
only a lower low to the May low will officially kill the cyclical bull,
but today we tune in on something that is usually a negative for stocks
and could paint the current rebound as not simply another great buying
opportunity on the way to fresh highs.
A reader asked me to look at the status of the VIX in conjunction with the SPX:
Transportation Short
I was going to short IYT, but it's so thinly-traded and has such a wide bid/ask spread, that I've decided not to bother. I wish there was a more popular instrument for such an important index.
Not Staying Here Long (by Springheel Jack)
There was an encouraging break downwards yesterday afternoon on SPX and ES, but it didn't last, and it wasn't the right shoulder on the possible IHS forming on both charts. Will we form that right shoulder? I like the setup but the stats for today and Friday are strongly bullish, and strongly bearish for Monday. For this right shoulder to form would require almost exactly the opposite of that. We'll see. Here's the setup on ES, with negative 60min RSI divergence having reached such heroic proportions that I would no longer regard this as viable reversal signal:
