Early on Thursday, when the Dow was up hundreds of points (bringing the grand total to almost 8,000 from criminal Powell) I wrote my premium members and suggested they pay attention to the trendline tag. Turns out that trendline held strong!
It was all thanks to chatter about a China-oriented press conference tomorrow from your President. As I tweeted eight days ago……..
The bigger picture of the Dow Industrials shows the trendline more plainly.
More important for me was the small caps, which slipped a couple of percent today, finally. The IWM has recaptured about two-thirds of its Feb/Mar losses, thanks to Powell scum.
One other major index worth watching is the Oil Index ($XOI) since it has just about perfectly tagged its price gap.
As of Thursday’s closes, I have 40 shorts and 3 longs (put options) for an 85% commitment level. For you gold/diamond folks, please note I’ve got 100 items in my Bear Pen that are worth examination.
Believe it or not, I may have YET ANOTHER SlopeCharts feature to announce before the day is over. I have hired more engineers to speed up development, and 100% of this is paid for by premium members. I’d like to humbly suggest that those of you who spend a lot of time on here as a free Sloper account, consider a premium membership. They are very inexpensive, and the modest fee is for an excellent cause.