Slope of Hope Blog Posts
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.
Snap. Crackle. Pop.
Today was a very good day. The relentless rage of precious metals higher finally abated, and equities managed to actually fall. I mean, c’mon, a 0.19% drop in the /NQ isn’t something to throw a party over, but still, I’ll take red over green any day of the week.
Most importantly, there is some real damage being done to the major ETFs out there:
Stall-mate
In sharp contrast with yesterday, equities are bright green all across the board today. if you look at the big picture from April 7th, however, you can see how the uptrend has fizzled out. We have spent the past couple of weeks drifting aimlessly below the broken trendline, and the past five trading days in particular have been a total bore-fest, as seen with the DIA:
I Dare You
Looking at the fresh index charts it seems to me the trendlines are saying, in many cases, “I dare you to break me.” For example, on the NASDAQ Composite, prices have been assiduously clinging to the trendline, barely hanging on for dear life.
Rare Earth Magnet
The rigid consistency of the /ES and its utter inability to stray from this lengthy trendline is jaw-dropping.
