Here are four long-term continuous futures contracts from overseas that have blasted back to major resistance points.
International Tops
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.
Training Data
More on Metals
Compared to the past three weeks, today feels like a crashing bore. Well, “crashing” probably isn’t the right word for a market that has been going straight up since the opening bell, predicated on the fact that Trump is supposed to………speak! So, I’m sure we’re all quite excited to hear more truthiness.
In the meanwhile, I wanted to share some charts of XME, the metals/mining ETF which I think has a very appealing risk/reward ratio as a short position.
Here it is with the RSI, which is quite elevated:
That’s Pep!
My biggest non-ETF equity short is the most boring-sounding: Pepsi Corporation (PEP). It’s actually a honey of a pattern, however, having hammered out a beautiful and massive rounded top spanning nearly half a decade (!).
Quite Quiet
Good morning, everyone. I’m not complaining, but it’s awfully quiet. As I am typing these words, the /ES is literally +0.00, as the continuous flow of pronouncements and denials from the White House hasn’t started yet. Last night there was a bit of excitement in auto-land, as, yet again, “exemptions” were proposed for cars. That caused car-making companies like GM (below) to rocket higher, only to fall to a loss when they realized that the credibility of this administration is just about zilch.
