What a strange week we just finished. Pretty much all the excitement was experienced on Tuesday (I don’t even remember what caused the plunge……..not that it matters), and then we had the NASDAQ-earnings-are-great rally starting on Wednesday. All in all, the week was kind of a wash, and you can see with the DIA below how the CCI is just kind of meandering at the midline.
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.
It was almost a year ago that I got an email from a local developer who pointed out a variety of important ways Slope could be improved. Since then, particularly over the past few months, my team and I have been hard at work on the new Slope.
If all goes as planned, this Friday, May 4, we’ll shut down the old system and start up the new. I am deliberating doing this after the close on Friday, just in case we have some snags (or a complete disaster). I wanted to warn you well in advance that if things look totally different (best case) or if you get a 404 Page Not Found error (worst case), it’s because of what we’re doing. Remember the day!
Like a tightly-coiled spring, Major US Indices and Sectors remain trapped in tight consolidation zones, so far, this year, as shown on the following daily charts.
What’s remarkable is that the swings on their rate-of-change indicators (with an input value of 1 day) have been getting smaller and smaller…hinting that markets may explode in one direction or the other at some point.
As yet, the catalyst to drive such a move remains a mystery. Perhaps more will be revealed next Wednesday (May 2) when the Fed’s interest rate decision is announced, along with any new forward-guidance revelations. (more…)