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.
There’s not a doubt in my mind that the crypto world is breathing a sigh of relief, now that everything is rallying. Ethereum is well above its psychologically-important $20,000 level, and Ethereum is above its $1,000. I would like to point out, however, that until and unless they cross their horizontal resistance lines, it’s just meandering in a range, as it is inclined to do, sometimes, for weeks:
Precious metals have been stinking up the joint since the year 2011. That’s pretty pathetic when you consider how every other asset, from kitty litter to Dogecoin, has thrived in that same timespan. As I was looking at the junior miners (GDXJ) I thought, hey, maybe that’s primed for a hearty bounce, considering where it is at relatively to its trendline.
It may not seem like it, but the market basically stopped falling way back June 16th. Since this, it’s been a grind-it-out, can’t-make-up-its-mind,, ghastly bore. I am highly confident that the quartet of monster economic reports coming out over the coming week, as well as the looming earnings season, will snap it out of its funk. I also wanted to point out, by way of the “percentage of stocks above their 15-day moving average” chart, that the over-sold nature of the market is a thing of the past.
For once in my life, I actually did the right thing. You’ll recall a couple of days ago when I was bemoaning the obscene amount of buying power that was collecting dust, and ultimately I decided just to yank it out of my account and put back into the bank. Turns out that was smart. It was NOT the time to be aggressive.
It’s interesting what’s going on now; we have BROKEN OUT of the basing pattern, but I would caution you to take note of what happened last time on the /ES:
There seems to be a growing consensus that the bear market is over. There will be a Fed “pivot”. There will be a surrender on Powell’s part. All the bad news is already “baked in.” As you might guess, I disagree. Here is a ratio chart. It is the RYT divided by the IEF. That is, the S&P equally-weighted technology fund (RYT) divided by the 7-10 Year Treasury Bond fund. Beautiful, isn’t it? And a long, long way from being done.
