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.
One of the most badly-battered sectors of the market has been in the oil and gas space. The XOP, shown below, actually pushed below its lowest prices in history, including the depths of the financial crisis, just yesterday. I’m not buying it, but I thought I’d at least share the chart for your examination.
I lightened up soon after the open this morning, although I’m still in 43 shorts. My commitment level is 130%, down from 200%, and I offer some of the charts below as the basis for my decision: specifically, some of the best setups have become extraordinarily oversold. I doubt they will recover to their failure points, but I’d at least like to see some of these beat-downs reduced before getting aggressive again.
No, this isn’t an inspirational, motivational post, in spite of the title. Now that we have finished the new technical studies dialog box, we intend to start adding studies at a brisk pace (whereas I think an entire year has gone by since we’d added anything). If you didn’t see the video introducing the new interface, please click here to watch it.
The True Strength Index was created in 1991 as a means to find market extremes and potential oversold/overbought conditions. It is a double-smoothed indicator, relying on exponential moving average as its foundation. Specifically, its calculation is:
(more…)Another terrific day! Even though we had ad bounce in the market, leading to a green ES and NQ, I turned out another nice profit, thanks to my well-chosen positions. I remain entirely short, and aggressively so, at 200%.
Let’s take a look at what the ES has done over the past few months:
There are three things that are having amazing bull markets: gold, bonds, and Slope Premium Subscriptions. Silver, Gold, and Diamond members get access to continuous futures contracts from all over the world in SlopeCharts, and I wanted to share a few below. I’ve captioned each.
When’s the bounce? When’s the bounce? Who knows. I was playing around with SlopeCharts‘ new indicator dialog, and I like what I see with the 75-day Bollinger Bands. Looks like we may still have some elbow room to the downside.
Navigating a market this wild can get exhausting. I’m typing this just moments before the opening bell, and I’m ready to search out a hammock. In any case, I’d rather have a market like this than just about every moment of the decade prior.
Keep a close eye on banks, financials, and brokerages. Look how interesting the recent activity on the financials ETF has been intraday:
