Of my twenty-seven shorts, six of them are ETFs. Here they are:
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.
Nit-Picking
As I am typing these words, the /ES, /NQ, and /RTY are all bright green. The bulls are still winning. But are they, really? Here are the quotes on all my short positions right now:
So Here We Are Again
Every so often I talk about the way chart patterns form and how they can evolve, and I have some very good illustrations of what I mean by that to show you today.
When rising wedges form in a trend and break down, sometimes they are just expanding as they rise and, when we saw breaks down the initial rising wedges from the April lows on SPX and QQQ a few weeks ago, I was talking about how if further levels above were reached then the wedges were just expanding and I would redraw the support trendlines as unbroken. That would create a new inflection point as those new patterns broke down.
What I am looking for in these cases are high quality resistance trendlines to form, either extensions of the initial wedge resistance trendlines or new trendlines, and I have three very high quality examples of the latter to show you today.
(more…)Tidal Wave Time
Good morning, one and all. It’s an exceptionally quiet pre-open, with the /ES up all over 0.05%, and yet with the FOMC looming and MSFT/META just after the close, the day will not be a boring one.
The small caps, represented by /RTY below, have had a very choppy week. The good news is that it seems to be banging out a series of lower highs with each attempt to push higher.
