Well, FINALLY, thank GOD. We’ve got a completed pattern, Slopers! EFA bears, rejoice!
Unchecked Pandemonium
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.
Strong Daily Lower Band Rides
The type of very strong daily lower band ride that I was describing on Friday turned out to be exactly what we saw, so I’m taking a moment to look at that this morning as these happen on a regular basis, two to four times a year or so, and tend to behave in a very characteristic way.
Looking at the SPX daily chart below, with just the two and three standard deviation bands marked, you can see how the body of the daily candle for the last two days is roughly under the 2sd daily lower band. That is normal, though a little misleading as I was noting on Friday that these often find resistance very close to the daily lower band. It looks from the chart as though the high on Friday was well above the 2sd lower band, but that’s because the 2sd lower band declined from 4492 at the time of the high of the day, with that high just above at 4494, into 4468 at the close.
(more…)Piling In to Fail
Below is a chart of Cathie’s fabled fund ARKK up to its mid-February 2021 peak. Take note of the volume. Interesting how more and more people kept jumping into this thing, right as it was ready to collapse by 60%, isn’t it?
OK, that’s the end of the so-called weekend for me. Time to rest of for an insane week-long battle!
Typing Out Loud
Hello, everyone. I’m typing this on Sunday evening about an hour after the futures markets have opened. In the least surprising news in human history, the ES, NQ, and RTY are all green right now, although modestly so. I wanted to share a few off-the-cuff thoughts as we head into this important week. Believe me, this post is as much for me as it is for you. Perhaps even moreso.
A Change of Seasons
Some of you know I am a cartophile (map nerd) so I find this kind of thing mesmerizing:
