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.
That’s it. I give up. I’m done with EWZ.
Why? Because the violation of the H&S top is too severe, and looking at EWZ’s history, it has the ability to complete a top and meander for literally YEARS before breaking down (see arrow). I’m simply not going to cross my fingers and hope. I’m done with it.
In my premarket video on Friday I was noting the four hourly sell signals fixed (3x) or forming (1x) on ES, NQ, RTY and DAX and saying that we might well see a retracement day. We saw that and all those signals reached target by the end of the day.
In my The Bigger Picture video yesterday I was looking at the support backtests seen on Friday and was looking at the bullish looking setups on SPX and QQQ particularly. So far that looks as though it may be delivering so let’s review.
(more…)I did my first trade ever in Nuecor (NUE) today – – long puts (surprised?) – – September $140s. I like this H&S top!
As traders, we know to be nimble, to quickly react when price turns against our thesis.
Last week was a good example of the current dubiously controlled markets – the tape bombs, the announcement of change from the former normal, the next issue that may, in a flash, change the market direction.
The best-looking setups don’t always play out, still, we place our bets from what the charts show us. Win or lose (remembering the biggest winner is a tiny loser), one thing we can be assured of is that the markets will provide another opportunity, directly; wait for it.
(more…)In my post on Monday 13th January I was looking at the four bull flag setups on SPX, QQQ, DIA and IWM, and the possibility that the bull flags would break up into retests of the all time highs across all four of those. SPX and DIA have made their new all time highs now, QQQ is getting close and I have some doubts about whether IWM will make it. I’ll review those today but first some historical stats.
The January Barometer is triggered when January closes down, and will often deliver a down year, but unless we see a truly impressive decline today that is now irrelevant for this year.
The second statistic I’ve been looking at today is the record of stock markets in the year after a presidential election. Of the last 21 of those going back to Roosevelt in 1941, eight delivered a down year, making this overall weakly bullish.
(more…)
