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.
It is my fervent wish that the mega-rally we saw on Friday will be remembered as a fantastic bull trap. Some of the big ETFs suggest that it will be.
The first chart, that of the Dow 30 ETF, has not a single bearish thing about it. This is a clean breakout to lifetime highs.
Way back on February 2nd, I wrote a post called Follow Bitcoin which suggested that equities would slavishly follow the path of crypto, because crypto, Bitcoin in particular, is not only an important liquidity indicator but it also captures the overall zeitgeist and confidence of the assets market.
Having observed what has transpired this month, it seems this goofy notion is actually quite on the mark, particularly since my post, as the layered chart vividly illustrates below (QQQ in blue, BTC in black).
This is a superb example of the head and shoulders top in action. Below is EHTH, which completed a marvelous H&S at about $48. It is trading at just a couple of bucks now. Beautiful.
Even though earnings season will be dying down, there’s plenty of other stuff that’s happening.
