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.
As proof we are in a market in which bad news is good news and good news is great news, below is the instant reaction of the ES to the news that the federal government will NOT be shutting down. Perhaps we can rally another 50 points Tuesday if we find out we are NOT going to war with Japan.
I was very pleased to see some Slopers besides myself jump into SlopeRules and share their creations. I strongly encourage everyone to do the same; and don’t be shy about publishing your rule set. We’re all learning together here, and the test results on the page will help us collectively see what’s working. Click here if you need specific instructions about how to share.
As I was thumbing through ETFs, I was struck by how interesting our neighbors to the north and south are looking as short candidates. Here is the fund for Canada:
Thank heavens for SlopeRules. Were it not for this project, I would be going insane with boredom in this market. There is nothing more boring than a captured market, and boy, do we have one of those.
Below I’ve put a few key index charts, highlighting what I consider to be medium-important resistance levels. We are all waiting on our hands for The Big Uncertainties to resolve themselves. Until then, it feels like we’re in a state of suspended animation.
In last weekend’s article, we focused on the relentlessly advancing S&P 500 (SPX) from its December 26 low at 2346.58 into an important Fibonacci price and time resistance zone at 2713.70 on January 31.
The 2713.70 level represented a 62% SPX recovery of the entire September-December decline, while January 31 represented day number 89 since the September 2018 all-time high, and the day that the December-January recovery rally time period equaled 38% of the overarching total timeframe from the September high.
We discussed the likelihood that the confluence of such meaningful Fibonacci price and time relationships could and should stall or reverse the relentless SPX six-week advance, and as such, would be a yellow caution flag for the bulls. (more…)
