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.
The Nasdaq bubble popped in 2000 after motoring upward on increasing volume in two separate phases. Volume rammed upward and RSI diverged. Like shootin’ fish in a barrel it was, except that at the time I was too inexperienced to see it. It was a steep slope and blow out.
During this mornings up-every-day-cuz-it’s-the-law rally, the IWM did what SPY, DIA, and QQQ have been doing every day: made a new lifetime high.
I keep my eyes wide open all the time
I keep the ends out for the tie that binds
Because you’re mine, I walk the line
Johnny Cash
Complacency never higher. Fear never lower. New highs every day. Such is the market we’re in. In the future, we will look back at these times and marvel. For now, some of you can consider it as Normal As Apple Pie. It isn’t.
Below is the intraday chart of the ES. There are two things of note:
Lifetime highs, all across the board! How about that? The fabled FAANG stocks have apparently busted into two groups. The first, Facebook, Apple, and Google, are all persistently, consistently pushing higher, virtually with no exceptions. It’s just a QE4-lovefest, and the Fed bux are flowing directly into the Buy orders to power these to lifetime highs every single day.
As decreed by Federal statute, the market hit lifetime highs again today, for the 327th day in a row. The bull market is flying along in its 11th year, and it will continue to do so until Jerome Powell decides to stop it. What would compel him to do so? Beats me. But the Dow Industrial Average has pushed above its channel:
