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.
Europe is a mess, and in spite of all the paper mache offering a pretty facade, it’s just going to get messier. From a charting perspective, the big break took place at the place marked with an arrow (which I nailed to the day for my Slope+ subscribers). There’s nothing to suggest this downtrend will reverse.
In which 2014 bids a fond farewell to one of the great “story stocks” of the year – Advanced Cannabis – which exploded over ten-fold on excitement over widespread legalization of marijuana……..only to lose about 99% of its value. Time to toke up.
What do all of the tinted areas below have in common? Those are the zones where folks figured crude oil had “bottomed” and was, at long last, rallying. To my way of thinking, there is nothing to prevent oil going into the 40s………or the 30s………..or the 20s. A few minutes of stability does not a base make. The chart below, incidentally, is just the past couple of weeks on a minute by minute basis.
SPX broke below 5 DMA support as expected yesterday and tested the 50 hour MA. That will often hold as support at the first pass and may do so here, particularly as the low was also a retest of the 2079.47 high. Well see whether that holds today and the 60min RSI at least is still suggesting lower. SPX 60min chart: