February has been a wretched month for the bears (dare I use the plural anymore?). Let’s review where things stand as of Tuesday’s close. We’ve got a NASDAQ Composite which has broken out of a cleanly-defined range:
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.
Well, “old faithful”, the trendline that’s been supporting triple-bearish-ETF “DUST” for the past couple of years, continues to do a yeoman’s job. Although the price mushed a little beneath its trendline most recently, it certainly provided a reliable bounce:
Here’s today’s swing-trading watch-list:
Long Medtronic (MDT)
ES had a bit of a retrace yesterday as some of the good news at the end of last week unravelled. The Greek talks have collapsed for the moment, and may well fail as it is plainly in the interests of Greece to leave the euro and default on their debt, rather than continue to destroy their economy by trying to stay inside the Euro. The Ukraine ceasefire seems to be failing as the main parties involved seem to have assumed that the ceasefire would not apply in areas where there is currently much fighting. Any agreement involving the Russians, who gave a firm treaty undertaking in 1994 to guarantee Ukraine’s sovereignty and borders in return for Ukraine giving up their extensive nuclear arsenal, has major credibility issues in any case.