Embracing the Below Average

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Holy MOSES what a boring day! As I’m typing this, the ES is up .12% and the NQ is down .12%. Average ’em out, and you get…….a Saturday trading session. So I’ll just put up the good ol’ TLT chart, which is utterly core to my options portfolio (two positions – TLT and XLU January 2019 puts).

As shown below, it broken its trendline ages ago, and it’s about 90% done with what could be (if complete) one of the greatest topping patterns ever.

slopechart TLT

Stripping away the price data and drawn objects, you can see the trio of moving averages slowly pivot lower. The market could still be “saved”, of course, as it has before, but I am optimistic we’re at a major pivot point.

slopechart TLT

In sharp contrast to, oh, say, the Russell 2000 small caps!

slopechart IWM

As an aside, I’ll mention that stacked items in SocialTrade in the comments stream BEHAVE THEMSELVES now as I wanted originally – – that is, instead of being thrown off to a different part of the site, you see the DIV window. There are a couple of bugs we’re working out in the window, but it’s 95% there, and a big improvement.