The fabled Sept 12/13 gap is a done deal.
Transportation Gap Closed
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.
Only the Monsters
Let’s review five major ETFs this evening, briefly.
First up is the Dow 30 ‘diamonds”. Same story here, folks. The good news for the bears is that the lower highs are still absolutely intact. The not-so-good news is that the descending trendline is damaged. However, as I pointed out in a post earlier on Tuesday, breaking a trendline doesn’t mean the downtrend is over.
Second Bite So Far
Today was an odd one. The market was so dull for the first 90% of the day, I just wasn’t feelin’ it, so I put up lazy posts. Then when things got fun and exciting at the end, I had a meeting to attend to, so I was out of pocket. I’m back now, though, and wanted to say that the IYR position I re-entered on Friday is working out great so far.
ETF Focus: Majors
Let’s look at some of the biggest ETFs after this horrific week. We begin with the Dow 30 “diamonds” fund, which has been in a descending channel for over a year. One warning is that the rally over the past four weeks has been so powerful that, on Friday, we got a little above the resistance trendline. More importantly, however, we remain below the most recent “lower high”, so as long as that is intact, we’ve still got a downtrend.
ETF Focus: Foreign
OK, looking outside the United States, here’s what happening with some big funds. The EFA formed a fantastic top, tinted in pink below, and has been banging out an increasingly violent series of lower lows and lower highs ever since. The most recent surge is by far the strongest of this entire bear market.
