I posted on twitter last night that my rally into the 1670s scenario might well be trashed if ES broke below 1650.75. ES did and that scenario is a write-off. ES double-topped yesterday with a target at 1650 and a declining channel has now been established with channel support in the 1620 area today. There is some positive RSI divergence here and we could see a bounce. I don’t yet have a pattern for the decline from yesterday’s high. ES 60min chart: (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.
Paradise Frost
I have a lifelong love of work. This is a thinly-defined noun for me, however, because “work” must be something which I would cheerfully do even without being paid for it. Ever since I was fourteen years old, I have made a point of seeking out tasks that gave me pleasure and happened to yield income as well. (more…)
Macro Markets Shrug Off Policy Makers
Once again we present the Treasury ‘TICs’ data for China and Japan, most recently available through June. It can be argued that these two countries are the T bond market, when considering the volume in which they deal and their strategic status as heretofore T bond consumers. (more…)
A Pair of Pending Gaps
First off, this is definitely going to be the “lightest” day for me content-wise, as I am wrapping up my quasi-vacation, packing up, and making the long journey home. I appreciate everyone’s understanding! Things return to normal, such as they are, Tuesday morning. Second, for bears, the market is again in a “wait out the storm” mode, but below are a couple of interesting short-side plays once those gaps get filled: (more…)
The Next Big Trend
Looking forward the next big moves will be in these securities. Nostradamus would be proud! (more…)
