Continuing with our fine tradition of shredded songs…….this is for you 80s fans……..
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.
A Storm of Sell Signals
I mentioned yesterday morning that there were a lot of strong sell signals fixed on various equity instruments and timeframes, and quite a few more fixed yesterday. At the close yesterday the roll call of fixed sell signals on SPX, NDX and RUT were as follows:
SPX – daily RSI 5_NYMO, 60min RSI 5, 15min RSI 14
NDX – daily RSI 14 and RSI 5, 60min RSI 14 and RSI 5, 15min RSI 14
RUT – daily RSI 14 and RSI 5, 60min RSI 14 and RSI 5, 15min RSI 14
More are brewing, notably the SPX daily RSI 14, and some weekly sell signals depending on the close today. On the futures charts I only really watch the 60min RSI 14 signals, and ES and NQ were fixed before the close yesterday, with a TF 60min sell signal that then fixed overnight.
Yen Retracing
Since Monday, hmmm were there any secret meetings that day…. The Yen has been falling. I laid out a fib retrace and am expecting the Yen to hold support at the 50% line. This is the new fuel for the rocket ship we call our stock market. This is also causing the precious metals some grief (why I bought DUST), and oil to some extent, as well. My belief is the Yen will renew its climb when our Fed does nothing in April, and no way in June with Brexit vote, on tap. In the meantime keep your NUGT’s warm.
Wee Willie Winkle
Most of you are probably acquainted with the Internet-based real estate web site known as Zillow, which is a public company under the ticker symbol Z. They haven’t been public that long, and although they aren’t doing as badly as some IPOs (Lending Club – symbol LC – leaps to mind), they aren’t exactly setting the world on fire either.
Next Up: China!
Well, equity action in the United States wasn’t exactly riveting today. The S&P 500 closed up two hundredths of a single percentage point. Whoop-de-freakin’-do, Janet. Maybe the twin reports from China (whose reputation for honest accounting is unequaled) at 7:00 PST this evening will shake things up.
