Slope of Hope Blog Posts
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Thank God for SlopeCharts. It gives me a creative, beneficial distraction from this New Highs Every Day No Matter The News market we’re in. It gets better, you benefit, and I don’t lose my mind. Everyone wins.
But I’ll take my hands off my eyeballs and look at a few ETFs and share a few words about them. First up is crude oil, which is probably going to have some excitement on Wednesday, between the inventory report (10:30 EST) and, much bigger, whatever rumblings come out of the OPEC meeting. As much as I’d love to see this crumble, the chart definitely looks more bullish than bearish.
Bears really haven’t made a significant impression on equity indices this year (Editor’s Note: no kidding…..….) and, statistically, there’s not much reason to think that might change in the last month of the year. One key trendline that I have been watching is the very decent looking rising wedge resistance from the 2016 low and that has broken up with some confidence today. That could still be a bearish overthrow, but that seems doubtful. More likely SPX is heading to test the next decent trendline option, currently in the 2650 area. SPX daily chart:
Just this morning we let you know that there are one hundred different cryptocurrencies on SlopeCharts. Now, just hours later, we’ve upped the game even more, by providing intraday charts of these same cryptos. I’ve also decided that EVERYONE gets access to all this data, not just PLUS users. Just choose Intraday from the Preferences:
Big news, cryptocurrency lunatics – – SlopeCharts has gone from having just a couple years data on a few currencies to having TONS of data on one hundred different cryptos! Here’s about how much data we used to have on Bitcoin, for instance: