Post-Labor Pains

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Before I begin, I’d like to ask those of you who are not subscribers to consider the BRONZE package, which is the newest, least expensive premium package here on Slope.

For a long time, I’ve had the sense that people wanted to contribute something to the blog for my fourteen years of effort, but fifty bucks a month was just too rich. And, beyond this “guilt fee”, they also wanted some premium services from the site that were more modest than the full-blown Plus (now called Gold) package.

This desire for a low-cost solution is largely what drove me to create multiple memberships in the first place (which we just launched).

Besides the warm and fuzzy feeling of knowing you are supporting the site, you get a lot of nice goodies with your membership, including:

  • More than twice as much SlopeCharts history
  • Live updating price bars
  • Full-screen SlopeCharts
  • Access to technical studies
  • Earnings calendar for U.S. stocks
  • Days-until-earnings feature in SlopeCharts
  • Plus all the advertisements on Slope are gone

It’s $9.95 a month, which is less than you’d spend on a glass of wine…..and there’s no WAY you’d make that glass last for an entire month, let’s face it. So I hope you’ll consider joining. And if you’re feeling extra certain, you can sign up for an annual and get two months free, plus you can change your membership level at any time. Give it a try!

OK, sales pitch is over. Let’s look at a few index charts.

The wonderful world of precious metals is in sorry shape. It’s super chart friendly, which makes it intriguing for a graph geek like myself, but…….this is just kinda sad;

In decidedly-not-bearish-yet territory is, regrettably, the entire stock market. The Dow Industrials was down hard this morning, but it magically ended the day down just a few hundredths of a single percentage point. The daily chart is still very bullishly configured. My focus is still in energy, financial, and real estate shorts, since I’m not really banking on any kind of overall market swoon.

There’s a glimmer of hope if you look closely at the Russell 2000 small caps. The CCI is clearly beginning to break down. However, it’s really going to need to break that horizontal support I’ve drawn to make bears anything beyond lunch money.

In the world of equities, just about the only steadfast loser has been emerging markets. In spite of some scary rallies here and there, it has been, ever since January 26th, reliably lower. Lower highs and lower lows rule the day.

My own portfolio positioning (whose contents gold and diamond members already have full, real-time access to………) is along these lines:

  • 57 individual shorts (50 are in the green)
  • Focus areas tend to be real estate, energy, financials
  • Tremendous impatience with any kind of losses
  • Well-formed patterns which – – and this is important – – have demonstrated substantial breakdowns during past periods with the same financial instrument.

For all the bellyaching I do, I think we’re in a very opportunity-rich environment right now. September could be a very interesting and exciting month. I’m glad you are here to spend it with me!