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.
It only took twenty years, but Slope finally has a saucy variety of put/call ratios. I discussed this last night, but now we’ve got sensible symbols and real names in there. The last tidbit we’re going to add is to put all seven of these into the Statistics panel of SlopeCharts, since even I am not going to be able to memorize these crazy-ass symbols.
We haven’t looked in on our friends at Current Market Valuations in a while. Here’s where the market is at:
A glance at the symbol $SPX200MA (which represents the percentage of stocks above their 200-day moving averages) looks ready to hit major resistance.
In my last post on Thursday 8th May I was looking at the bear flag inflection point that US equity markets were in last week. That broke up hard on the 90 day delay on most of the China tariffs over the weekend.
I was saying in that post that a break and conversion of the 200dma on SPX would open a possible retest of the all time highs, and the 200dma on SPX has now been converted with a strong gap over it on Monday and closes well above it every day this week.
Is this the end of market excitement this year? I think probably not, but it is the end of the beginning of that market excitement, and I think a retest of the SPX all time high soon is now likely.
After that I still think that the main event of the markets this year may be based around a crisis in the bond markets but elsewhere there are still important points to remember.
(more…)I called the likely start of a strong rally on Crypto in my post on 11th April, and we have seen that rally. This has been, as I titled my post that day, a distorted mirror image of the rally on equities at the same time.
As of this morning I had not called a candidate rally high on either Crypto or equities for the move up from there as the setups didn’t look ready yet. That’s still the case on equities but there is now a high quality setup to reverse down here on Crypto for at least a strong retracement, and possibly a 2025 low retest.
I have a number of instruments I watch to warn me of possible direction changes coming on equities and Crypto is one of those, along with oil, copper, lumber and some others. I’m not assuming that equities will set up to reverse back down as well shortly but they may well. At the least there is a good case to see some consolidation on equities here. Crypto and equities do tend to be strongly correlated, but they aren’t in full sync all the time, and it may be that this move can happen without anything more than some sideways consolidation on equities.
(more…)
