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.
This has been a very tense week. The persistent tug-of-war between good (the bears) and evil (the bulls) has been worse than ever, with neither side gaining a toehold. Today (Wednesday), however, helped the bearish cause in a couple of ways.
First off, the all-important crude oil bounced perfectly off the upper trendline of its wedge pattern. This is the only reason I made a decent profit today, because my positions are so prone to movement in crude oil. The weaker this gets, the better things go for the bears. Oil is crucial.
Aside from sounding consistently self-conscious Martin Armstrong seems to find a need to wrap basic and well known (or what should be well known) concepts in cloaks of mystery that only he – and his computer – can divine. I think this is a really smart man, but with an out sized ego.
Up-Down-Sideways? What is Going On?
“The Golden Rule of the 3 Attempts (TM)” * is another way of saying that the more times a market bashes away at resistance, the weaker that resistance tends to become. It’s basic TA, can be applied to short or long time frames and it’s widely known and respected. You have seen me write things like that many times over the years. In reverse, the more times support is tested, the weaker it tends to become. TA 101, or at least it should be.
“It becomes rather amusing to what the so called professions end up constantly wrong so they start bruding and proclaiming this feels like 2000 or 2007 before the crash.”
Here’s your swing-trading watch-list:
Short Aflac (AFL)