Clearing the Air

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Here’s the Tim-Cam from this morning……….

Seriously, I think I’ve aged five years in the past three days, but – – like the Beatles sang – – it’s getting better all the time. And I seriously hope people are enjoying the new site and its spiffy features.

I thought I would try to leave the world of systems administration and fire-fighting for a bit and nestle into the more familiar and comfortable role of chart reader. So here are some big ETFs and the “big three” moving averages………..

First up is bonds, by way of TLT, which is still a fantabulous long-term bearish pattern. This……is…….key!

Energy bulls have been having a grand old time. Just look at that breakout for oil and gas explorers. I will note one tiny asterisk which is that today’s action was a shooting star. But one candle does not a trend break. It’s just worth knowing.

Utilities, another key short for me (by way of January 2019 put options) is well-configured, but it needs to break that intermediate-term supporting trendline.

I am quite enamored of the Industrial Select sector, whose 50 day EMA has just crossed beneath the 100 day, and which is also sporting a terribly well-formed triangle top.

I also like financials (which I am short, rather aggressively, by some January 2019 FAS puts). Here is XLF:

Another 50/100 crossover has recently taken place with the materials select sector.

One last item for the oil bulls – – this crude oil breakout looks powerful.

Allow me a final moment to say “thank you” to everyone for their support, patience, and above all else, enthusiasm. It is profoundly heartening, after all these months, to get a few pats on the back and “attaboys”. I am pleased so many people like the new Slope, and I’m particularly pleased that those who had some trouble using the system early on are sailing along now.