The ETF for the consumer discretionary sector broke its trendline ages ago, but as of yesterday, it perfectly tagged the underside of the now-broken trendline and should treat it as resistance henceforth.
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.
For over half a year, the emerging markets have been following a relatively steady ascending channel. About a week ago, they got close to the top of the channel, and they’ve started seeing some meaningful weakness.(more…)
I’d say the biggest risk for the two or three bears left on Earth right now is the financials, shown below in the form of XLF. Notice that horizontal I’ve emphasized at the 27.33 price level. We’ve got a clean IHS below it, and should we cross 27.33 to the upside, that sets up the pattern to pierce the descending trendline (yellow tint), at which point it would be like a 42-gallon drum of gasoline on the bullish fire.
To expound upon my “bullet entering the brain” post from last night, let’s just go whole hog. Let us assume:
- The federal government has now perfected utter control of equities;
- They have absolutely no reason to ever let them decrease;
- It will be months, years, or decades, before they lose control.
Having embraced those chilling assumptions, here are the measured moves for the cash indexes shown, represented in both point and percentage terms. These measured moves are based on the inverted head and shoulders pattern, all of which are complete except for the Russell 2000. Please note that the percentage gains are measured from the neckline, not from present price levels.(more…)
I’ll level with ya; this is one of those days when I’m absolutely struggling to come up with anything to write about. So I’ll just throw out there a chart I find mildly interesting, which is Honeywell.(more…)
It wasn’t but a few days ago that the “Aircraft Type” portion of a flight’s information would be overlooked by most travelers. I mean, who cares what the manufacturer and model number are, right? Well, now that the 737 MAX is all over the news, and is basically assumed to be a suicide mission if you get on board one, everyone’s making damned sure they aren’t getting on a MAX.(more…)