Well, suffice it to say, the grind up continues and we are in bear hell. What has been clear to me is that this is a day trader’s market (for the most part). For swing traders and others, trying to stay in position in either direction won’t work (unless you are playing the really long game). It hadn’t really worked since October.(more…)
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.
On Friday, the EFA came within six pennies of tagging its important resistance line (which is the dashed red horizontal).(more…)
I have mentioned how the market is in a massive “Face Off”, with a giant topping pattern on the left and a massive bullish base on the right. Across the board, we are at the line of scrimmage, and my dream is, of course, that we resolve this tension bearishly. It turns out that the municipal bond fund has this exactly same crazy setup, which I’ve never seen in my life before (and now it’s all over the place).(more…)
The surprise OPEC+ announcement two weekends ago solidly pushed oil over what had been a descending trendline of resistance.(more…)