Precious metals seem to have taken a page out of the army’s operating manual and are in a permanent state of “Hurry Up and Wait!” As with the last instance of consolidation, highlighted in yellow, prices are stuck in a very tight, boring range. My view is that once they finally break out, it will be to the downside, and we can get this party started again. (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.
Short Term High Looks Close
ES reached the 1688-90 target area I gave yesterday morning and reversed there. That could have been the short term high that I’m looking for, but if so then I would have expected the 50 hour MA to be tested overnight and break. As it is it was tested overnight and held, and ES has bounced back to 1680 at the time of writing. If that continues to be the case today then we may well make a new high not too far above and I am running two scenarios for that. (more…)
Those Motown Blues
Thought Experiments
Before I get going describing my thought experiments, I feel I should admit to a couple of failures. In earlier posts, I had made the claims that GDX would not fall below $26.31 and that gold would not trade below ~$1250. I was wrong on both counts, so please take my musings below with a nice pinch of salt. (more…)
Fun With USO – Both Long And Short
My options scanner has picked up a USO options imbalance for August. Check out the August options scan below. USO has a reading of -0.70382 on decent open interest. (more…)
