If you think way, way back to a few weeks ago, you will recall that once the “taper cat” was let out of the bag, the market fell hard, and it fell quickly. Markets tend to fall much faster than they rise, so all the excitement was really over in just a couple of days, and its taken the past couple of weeks (with the bulls laughing and taunting with every uptick) to retrace the drop. (more…)
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 remaining US equity indices that had not yet broken their declining resistance trendlines all broke up yesterday. Of these that I have been watching, which are SPX, SPXEW, INDU, TRAN, NDX, RUT, WLSH and NYA, all have now broken up, RUT actually made a new high yesterday, and there are very clear broadening descending wedges on SPX, TRAN, NYA and WLSH that have all broken up with targets at the May highs. The odds here are high that the retracement from those highs is over, and that new highs across the board will be seen soon. (more…)