Happy Sunday evening, everyone. As we drag ourselves through this ridiculous three day weekend, at least the futures have opened up. I’m typing this just a few minutes after the opening bell, but at the moment, every single equity futures contract is in the red.
![](https://slopeofhope.com/wp-content/uploads/2023/02/ESSSS-640x493.jpg)
Of particular important, as always, is the US dollar, and this intraday chart of the Euro versus the USD shows how it’s starting to slip again. I am, of course, hoping this sustains for the rest of today, the entirety of Monday, and then well into Tuesday, at which time the powers that be will allow us to have a market again as opposed to sitting around wondering why we’re celebrating George Washington’s birthday.
![](https://slopeofhope.com/wp-content/uploads/2023/02/EURUSD-640x497.jpg)
Besides reading this massive Palo Alto tome, I’ve been keeping a steady eye on crypto, which I’ve repeatedly mentioned is a great proxy for equities (and, unlike the lazy bums at the stock exchanges, doesn’t take a holiday, even at night). We can see the beautiful “tag” of resistance last week, and that has held.
![](https://slopeofhope.com/wp-content/uploads/2023/02/btcpeak-640x807.jpg)
The import of this tag is illustrated below, as it matches the silly peak from way, way back last August. God willing, this will stick a fork in the proverbial toast of the equity market, having subjected the better angels among us with a 4 month counter-trend rally from hell.
![](https://slopeofhope.com/wp-content/uploads/2023/02/doublebtc-640x310.jpg)
I shall continue to roam the house looking for projects to do, things to clean, and drawers to organize. I’ve been doing the same, in a virtual sense, with Slope. I look forward to firing on all cylinders against Tuesday morning, and then we at least will be allowed a while to trade until Easter comes along, but that’s a good, long run, so I’ll take it.