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.
Bulls were counting on Jensen Huang to supercharge the bull market into a whole new chapter yesterday afternoon, by making a speech about the super-expensive, super-fast, super-huge new computing products Nvidia was announcing. It didn’t work. NVDA, SMCI, SMH, and QQQ are all down, and AMD, a vitally important component of the semi/AI bubble, has broken short-term support.
The US stock market has been undergoing internal rotations lately. We anticipated potential rotations to the more cyclical areas like Energy and Materials, as opposed to the Tech/Growth areas that Goldilocks has favored for most of the last year (also as anticipated, a year ago).
As for Energy and Materials, per the NFTRH Trade Log the Energy sector (XLE) was added on 2.8.24 and the Materials sector (XLB) was viewed as technically quite bullish in NFTRH 798 (2.25.24) and added per the Trade Log on 2.26.24, with an ultimate upside target well higher than the current level.
(more…)More evidence that this preposterous, phony, fake, insane, debt-fueled insanity is starting to run out of gas: the Dow Transports were in the process of creation a massive bullish foundation for the next surge higher. The pattern is completely petering out, as prices have stalled and have brought ruination to the prospect of this potential energy being released.
Nice symmetrical setup in biotech. Continuation or a bullish breakout? SPDR Biotech $XBI is currently a momentum leader, on par with broad tech funds at the moment.
