February’s Restoration

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When this month began, it was awful for the bears. They had endured the ravages of an idiotic counter-trend rally that started on January 6th, and the smug, swaggering bulls figured the bear market (if there ever was one) had ended already. The peak was on Groundhog Day (fittingly enough), and the bears have been slowly wiping the smirks off the faces of the bulls ever since. Below are a dozen important ETFs, presented as monthly charts. I have put a remark in the caption below each of them.

SPECIAL NOTICE: I would also like to remind those of you without paid accounts that I’ve added a few special offers (and virtually free trials) to our membership page, so please check it out in the new Special Offers and Discounts section………I hope you’ll level up your Slope experience!

DBC: This is getting deliciously close to a failure of its right triangle top.

EEM: The emerging markets completely reversed their gains from January. It’s right back to New Year’s Even.

EFA: This is by far my biggest position. Indeed, probably the biggest I’ve ever had.

EZU: The Eurozone rallied mightily for a few months, but clearly has stalled out.

FXI: China’s drop was fantastic. As you all know, I stupidly dumped my FXI puts, and they have since ascended by 200%.

GDX: Precious metals miners completely blew their chance at an ascent.

GLD: Gold did what it specializes in doing, which is bitterly disappointing the kooks.

IYT: The Dow Transports is sporting a beautiful shooting star doji candlestick.

QQQ: Speaking of shooting stars, this candlestick is fantastic, and its peak perfectly tagged the Fibonacci.

SLV: As with gold, silver had a rotten month.

TLT: Bonds are about to enter their 37th month in their bear market. Yow!

XLU: I am very pleased that we’re about to enter the lower half of this long-term channel, and congratulations to the Gold and Platinum members who jumped at my short idea with respect to symbol CNP, which has been doing great!