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.
Here are the WEEKLY HEAT MAPS updated as of last Friday’s close: NVDA is the only stock overbought, Crude Oil is also very overbought but the Iran situation is a factor in that, so it could go higher.
Broadly speaking 50% prob. of reversal is where a transition starts to happen, from neutral to oversold or from neutral to overbought, however >50% is when the probability of reversal becomes good, the chance of a sudden reversal rises.
Following the historic bombing of Iran over the weekend, the reaction to which was an over 600 point drop on the Dow according to the Weekend markets, some cynics began to write “It’ll be green by the open!” Yeah, yeah, you silly boys. Give me a break. Not this time. It’s WW3, after all! And yet………
Having excitedly watching the Weekend Dow plunge to a loss of over six hundred points, it was a real bummer to see that, once the market was actually open, the loss was about one-third that amount. That is precisely what I was referring to when I wrote on my post early this morning that, “Weekend IG is often a very, very crude proxy of what actually happens when the futures markets open on Sunday evening“. Q.E.D.
