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.
As I am typing this (I really shouldn’t have to type that each time………..) the /ES is up 35 and the /NQ is up 138, which in normal times would be a wild morning, but these days is practically tepid. Last night, we were all watching the inverted head and shoulders pattern on the /ES. The market had been beaten up badly, so it seemed pretty much a slam-dunk for the /ES to complete this IHS and, at the very least, seal up its price gap (arrow).
I’m leaving theartofchart.net today, my main base for almost nine years now, and setting up a new site at chartingthemarkets.substack.com though I seem to have unintentionally picked a really wild day to do that, so this is my second post today to cover the setup here on equity indices as well as my previous post today on crypto.
Why am I leaving theartofchart.net? Well many reasons really, but I’ve told a few people over the years that a collaboration between chartists might be reasonably compared to musicians forming a band. There comes a time when it is just time to move on, and I want to expand on my premarket videos and deepen my work and involvement with cryptos which it will now be easier to do.
(more…)Now that the market is utterly falling to pieces, I was curious to know what I wrote back at the VERY TOP of the market, July 16th, when the VIX was at 11 and I absolutely detested trading and could barely bring myself to compose posts for Slope. Well, here it is – – and it’s about Nvidia. I wrote the following, which should be chiseled into granite with its date:
For 22 months (!), NVDA has politely traveled within the tidy confines of an ascending price channel. I suggest keeping a close eye on this dashed midline. A failure here would open up the prospect for a trip down to the price gap, marked in green, at $96.01, which is a long, long way from here.
So we went from this:
