It’s hard to get excited about drops in the ES and NQ anymore. As I sit here at this very moment on Thursday evening, they ES and NQ are both dropping, but it seems that every drop is simply met with more buying, as shown below. The good news – – indeed, the only good news – – is that, on a broader time scale, equities are still slipping away. Still, it’s maddening. I wish they could just GO down and STAY down.
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.
Are Bitcoin and Gold Bottoming?
Bitcoin plunged from 7385 to 6830, or 7.5%, Wednesday in reaction to a Business Insider report that Goldman Sachs has decided to drop a year-ago decision to create a crypto-currency trading desk.
Apparently, Goldman is “uncertain” about the regulatory environment. Hmm, really? Since when has Goldman shied away from forging a new path while it influences the architecture of a new regulatory environment?
Be that as it may, let’s notice on the attached chart of September Bitcoin that the reaction to the report triggered a plunge that traversed the entire width of the bullish one-month price channel. But the weakness in and of itself has not (yet?) inflicted serious technical damage to the upmove from the August low at 5850 to the September high at 7415. (more…)
Nine Years Will Do That………
Snap, Crackle, and Poop
Thanks, Evan! Now go back to your principle focus of attention, instead of building a profitable company.
