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.
Back on May 31st, I pointed out the ascending trendline on the small caps (via IWM) and mentioned, “As you can see, the last time it tagged this lower channel trendline, it rallied mightily.” Well, regrettably, that is precisely what has happened. I’ve put an arrow on the day of the post:
So where to from here? Ya got me; lifetime highs aren’t my cup of tea.
It can be a little disconcerting being up at 5 in the morning, pitch-black sky outside, and know that I need to write something……….anything………about a market which is doing absolutely zilch. And yet that’s the task ahead.
As I expected, the “Super Thursday” this week, with – according to ZeroHedge – seven gigantic, market-moving events, turned out to be a big, fat nothingburger. As I am typing this, the ES is up a tenth of a percent, the NQ is up, but even less than that. and I’m not so sure traders won’t be gathered around their screens on Saturday staring at quotes, since it won’t seem much different than any other day this week.