When I was in college, my roommate was dating a girl from Colombia for a number of years. Sixteen years later, the song "Para Donde Vas" is still engraved in my consciousness. So today I ask the Spanish, where are we going? I'll let the EWP versus SPX divergences speak for themselves.
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.
MLPs & Flash Crashes (by TnRevolution)
As I was reviewing my charts and the financial news this weekend, I came across Mish's article:
Another Plunge in 3-Month Rolling Average of Petroleum and Gasoline Usage
He states, "Note that petroleum usage is back to December 1995 thru February 1996 levels. Gasoline usage is back to December 2001 thru February 2002 levels."
On The Eve Of Revolution (by TnRevolution)
Whatever the news or headlines that may be approaching, the charts speak for themselves.
Let's take a look at the Russell 2000 first. The Russell has yet to breach it's 2011 high, remaining underneath the downward sloping trendline coming off the 2011 top. It also shows a beautiful 5 wave pattern down from May 2011 – October 2011, followed by an A-B-C correction up from October 2011 – February 2012. Notice the double negative MACD divergence showing. Daily stochastics are becoming oversold, so I would expect selling early this week, a test of the trendline coming up off the October low, and then a modest bounce before heavy selling begins.
