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.
In spite of the recent mega-surge in equities, I’d like to point out that the 80,000 foot view of market strength isn’t looking quite so peachy. Below is the chart of the percentage of stocks above their 200-day moving averages.
On Thursday last week I wrote a post looking at the possible four larger bear flags that could form on SPX, NDX, Dow & IWM after the sharp decline on Wednesday afternoon. Of those four, there are three decent looking larger bear flags that have since formed, and this morning we are watching the inflection point where these flags may break down into retests of the retracement lows made on Monday last week.
On SPX the obvious larger flag resistance trendline I drew on Thursday was hit perfectly on Friday and overthrown slightly today.
(more…)My post yesterday was close to the rally high so far and all the bear flags I showed broke down shortly afterwards and continued down the rest of the day.
Now on a break down from a bear flag the target is the retest of the prior low, but there are other options, notably when the flag that has broke down is just the first leg of a larger bear flag that is still forming, so I’ll talk about that today.
On SPX there was a strong break of the bear flag yesterday, 5min RSI 14 buy signals fixed near the lows on all of SPX, NDX, IWM and Dow, and played out this morning. A weak 5min RSI 14 sell signal has now fixed on SPX and it may be that the indices will turn back down here into the retest of Monday’s lows.
(more…)This market is marvelously exhausting. I’m already resenting the weekend ahead, since it’ll create a break in the festivities. Can you imagine if Juneteenth was coming up? The past three days feel like thirty, and the only sad thing is that – – as Colonel Kilgore assured us – – someday this war’s gonna end.
In the meantime, though, the bombs are dropping, and Slope’s 20 years have proved one thing: when the market gets battered, Slope gets popular. It’s only just beginning……….
I was laying out a possible bearish scenario on SOLUSD (Solana) on Thursday morning. It wasn’t my main scenario but I was saying that on a break under support at 165, it might well deliver. I was planning to write about that in a post this morning as something we would likely see this week. Annoyingly however, I see that my downside target was reached this morning, so I am regretting not writing the post on Saturday. You can see that premarket webinar from Thursday 1st Aug here, and I start talking about crypto at 06.26.
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