Before the promotional corners of the gold community start with the conspiracies, excuse making and general placing of blame everywhere but where it belongs, let’s simply note that this correction was indicated (by sentiment) as far back as February 22nd. On that day I made a post quoting three anonymous sources within the community, firing up the troops to be hyper bullish… as in a gold price of $1400 promptly before a “parabolic slingshot” on the way to $3000 off of a “gargantuan pattern” (that had not even appeared yet and was but a figment of a fertile imagination).(more…)
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.
SPX has spent the week inching through the topping process, with some progress particularly yesterday and today. Yet another higher high may be needed, as I was suggesting in my premarket video this morning. That is below with an update on ES and the usual 21 other futures charts.(more…)
Looking at a trio of overbought/oversold indicators, set to their slowest parameters, the financial sector definitely seems richly-valued.
Marijuana stocks are among our top charts to watch today.
Aurora Cannabis Inc. (ACB) rose 8 cents to $8.96 on 21.3 million shares Wednesday. Bank of America Merrill Lynch named the company as one of three marijuana stocks to buy. The stock, after sharp year-to-date gains, has been consolidating in recent weeks, but may be on the verge of its next leg up with cannabis stocks in general. Next target is around $10.50, above its March high.
I don’t think there’s been any stock in Slope’s history that’s received more abuse than Pier One, and with good reason. For the past couple of years, I have been contending it’s going to ape is collapse from the financial crisis. Well, this morning’s 25% drop helps.(more…)
Well, I suppose the non-event of the Mueller report is going on right now. I’m not even checking. And I daresay newspapers will be dissecting every non-redacted word throughout the weekend. Yawn.
Anyway, it’s a green day once again, with both ES and NQ up. I will point out that the ES has changed its relationship with its December 26 trendline, however, as it is now battling the line as an area of resistance. Nothing earth-shaking, just worth noting.(more…)