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 morning was so interesting that I wrote a lengthy post and gave it a rare “Best of Slope“
tag.
This morning, on the other hand, with the /ES and /NQ both up a few hundredths of a percentage point, I don’t have a thing to say. Zilch. So, I’m going to stroll out into the inky darkness of Palo Alto and walk my dogs. I’ll write up something when a market somewhere actually moves.
In my last post on Tuesday 4th August I was looking at the ambiguous setup on US indices and the Nikkei after the strong rally into the beginning of August, noting the three good quality topping patterns that were still intact on the Philadelphia Semiconductor Index (SOX), QQQ and Nikkei.
I also noted that SPX was close to the daily 3sd upper band and said that I was looking for a short-term consolidation of a week or so to allow time for the daily middle bands to go higher, and for the daily outer bands to expand, opening up further possible upside. We have since seen that consolidation, the daily middle bands have turned up and the outer bands have expanded.
(more…)We enter a new week with no meaningful economic reports, no important earnings, and no news about the endless war with Iran. Thus, the market is just lingering near lifetime highs, ever so slightly red on most stock indexes. I’m pleased to see that the attempts to push to lifetime highs yet again on the /ES was repelled almost perfectly at the horizontal.
After yet another vicious fake-out on July 29th, the market has resumed its old ways of banging out lifetime highs on a daily basis (weekends notwithstanding). Here are eight key index charts below, with brief remarks by me beneath each one:
