I’d like to point out that the Dow Industrials fund DIA is right at its major Fibonacci retracement level. It’s also challenging the lows of the year. Come on – BREAK it! You know you want to!
Diamonds at the Fib
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.
The Big Picture (by XerxesTraderGF)
While the most exciting moments of stock action can be observed on Hourly and Daily charts, it is always good practice to maintain awareness of longer term technical levels. Here I am laying out a few exciting signs but some potential warning signs that I am seeing, hazardous to bears and bulls alike.
Merge then Purge
You may have heard about the Ethereum Merge, which is happening literally within hours of this post. I’m not an expert (not even close), but I found this article to be a good thumbnail as to what it’s all about.
I am, however, a chartist, and this chartist makes the same point he’s made repeatedly – – – break that intermediate-term trendline, and it’s bombs away. Break the dashed line also, and it’s mega-bombs away.
An Eye Toward September
I am composing this post on Tuesday night, late into my flight back home. Say what you will about Bear Force One, but it came through. The last day of the horrible two-month countertrend rally was August 16th. My departing flight was August 17th. Bang. BFO for the win.
People of the Lie
Let’s start off with a simple fact: out of 100,000 people, you’ll find maybe one true bear among them. There’s hardly anyone that’s ever going to posit a bearish argument about the stock market, because they have no vested interest in doing so. Not the carnival barkers on CNBC. Not the equity-pushers from Goldman Sachs, And, God knows, never, ever from any Wall Street analyst. 365 days out of every year, their message is the same: “Buy, Buy, and Buy some more.”
Thus, it is no surprise that we’re seeing a particular “fact‘ being pushed onto the public, stating in no uncertain terms that there has never been an instance in the history of the universe when a market has recovered more than 50% of its price plunge and failed to soar forward into a new bull market. I am seeing this argument absolutely slathered all over Twitter………..
