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.
Yesterday I did a premium post called Golden Gap, in which I wrote:
Over the past six trading days, precious metals have managed to mount a hearty recovery, thanks to the (long-awaited) break in the US dollar’s relentless climb. I would like to suggest, however, that gold – – which has done an excellent job of disappointing precious metals fans for the past seven months solid – – may be reaching an important resistance point in the form of that island reversal gap. In other words, I think this might be just about “it” for now.
In spite of Monday’s big ol’ honking rally (which I publicly wished for over the weekend), some very interesting slow-motion meltdown is taking place out there, folks. The Dow Industrials Average has quite clearly broken the trendline established two and a half years ago at the Covid low:
Jesus H. Christ on a pogo stick, what a horrific psychological travail they put us through to get here. Look at these index charts and be amazed. Today’s HIGH matches, almost to the hundredth of a point, the LOW from last Friday. In other words, the mayhem of the past four days merely served the purpose of CLOSING THE GAP, and now, bang-bang, we rock again.