Creak By Tim Knight - 4 years ago (07, Jul 2020 5:31:10 PM) My tweet near day’s end sums up my feelings nicely: Let’s look at some indexes; I’ve put some remarks beneath each. Dow Composite – still below the price gap, still below the broken intermediate term trendline, and no bullish crossovers. All good things. NASDAQ Composite – obviously a bullish paradise. Lifetime highs on the megacaps virtually every day. Bullish crossover took place months ago. This one will be the last to go. Gold Bugs Index – zoom! Great stuff, and poised for sailing higher. NASDAQ 100 – This is a long-term chart spanning about a dozen years. You can see present price levels are mashed right up against the highest trendline. NASDAQ 100 closer view – the rally has been so strong we’ve actually slipped past the grasp of the trendline’s resistance, similar to how we broke below support (briefly) in March. Russell 2000 – always of the most interest to me personally, we are right at the cusp of a potential trendline failure Russell 2000 closer – notice how the moving averages remain bearishly configured and how we are just pixels away from a trend break S&P 500 with an absolutely picture-perfect gap closure Oil and Gas Index – a beautiful island reversal pattern, and weak ever since Currently I have 70 short positions, 173% commitment level, and all 70 profitable. « Prior Next » https://slopeofhope.com/2020/07/creak.html Creak In order to comment on this blog, you must have JavaScript installed and enabled. « Prior Next »