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.
After two solid years of bluster, nonsense, misdirection, lies, and – – just to bring Joe Biden into the picture – – malarkey – – not one single paragraph, sentence, word, or punctuation mark of any kind of China Trade Deal has been signed. The only thing I’ve mentioned more frequently than “There Will Not Be a Deal” is the fact that I’ve said “There Will Not Be a Deal” before. I just want to be clear.
Anyway, over at the NATO fete, the most healthy and ingenious President in U.S. history declared practically within the same breath that things were China were “going very well” (whatever that’s supposed to mean) and that maybe it would make sense to wait until after the election to get a deal done.
I’ve been talking in my last few posts about expecting a significant high at the end of November, to be followed by a downward cycle into April 2020, and here we are at the end of November, so how’s that looking here? Well as it happens a rare and significant event happened at the close today that confirms the inflection point here and leans strongly towards seeing that retracement next.
Happy pre-Thanksgiving to Slopers. To be clear, today is a full trading day, and Friday is a shortened day, closing three hours before normal.
I wanted to thumb through a few big cash index charts. In most of these cases, they have blown right past their Fibonacci extension targets (thanks to Powell’s QE4). These extensions are based on major high/low anchor points, and are represented by horizontal lines. Here is the Dow Composite:
from MoneyMiser21: Before you slide up to the table for extra helpings of turkey, stuffing, and pumpkin pie… there are several 21st Century trade trends you may want to consider before Thanksgiving week arrives.
THANKSGIVING WEEK TRENDS
Some traders won’t be surprised to learn that the week of Thanksgiving itself shows a bullish trend so far this century. But what you may be surprised to learn is which of the big four indices stands out the most.
As I had hoped, I am “4 for 4” on profitable days this week, in spite of all the insanity. On every one of those four days, I was showing a loss (sometimes a deep one), but my shorts healed themselves nicely. As the ES below shows, this market has become all smoke, no fire. The truth pushes things down, and lies push things back up, and we’re at a stalemate.