A couple of weeks back, I stooped to mentioned ETSY (of all things) as a good stock to buy. Yes, that’s what the past seven years have done to me. The funny thing is, it’s worked out pretty well…….
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.
Testing the Daily Middle Band Day #2
Range support was broken on SPX yesterday but the main task for bears was to deliver a close below the daily middle band and they didn’t manage it. They get another shot today, and if they fail that would invite another retest of the highs and possibly a new all time high. SPX daily chart:
SPX:VIX Gap Fill Looming
The Momentum indicator on the SPX:VIX ratio is at a new life-time high and it’s going parabolic, as shown on the Monthly chart below.
May Fortune Favor the Foolish
I had a terrific day – – the best in a long time – – but I have very little to say about the markets. The sectors I am short are doing especially well (energy, banks, and – – as Slope Plus users know – – airlines) and I find what’s happened with the ES recently fascinating:
Specifically, we had a false bullish breakout on Sunday/Monday (green tint) and then we failed support (magenta) today. Most importantly, during the inevitable and totally stupid end-of-day buying, it went precisely back to the level which is now resistance. God willing, it’ll hold, and we can have more than one stinking day of a down-move.
Finally, some people freaked since Gartman ostensibly went bearish. He didn’t. For those who actually bother to watch the clip, they’ll see it’s just usually the mushy-wushy, namby-pamby stuff, which means no one can pin him down on being wrong later, and he specifically says he is not short ANYTHING. So if you think that’s bearish, well, fine, it’s your funeral.
