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.
Surely you need no more convincing about how much the character of the market has changed, but allow me to use Tesla as another vehicle for illustration. Below we see Tesla’s behavior toward the latter portion of 2022. Nary an uptick in sight, and a steady, unrelenting wipeout, slicing through the Fibonacci levels with ease.
“Sell in May and go away,” my ass.
To be honest, it should have been crystal clear when I got the special “Interim Bulletin” from the boys in Gainesville two days ago. Any time the market really seems like it’s totally done and will enter a free-fall, they send out one of these things. It only happens once or twice a year, but I don’t think any of them have ever preceded anything except another rally.
So what has transpired in the two days since then was predictable……….
(more…)In the unlikely event you don’t believe this market is godawful stuck look no further than the volatility and IV rank information for the SPY. This whole “debt ceiling” thing is going to come and go like it never happened.
I had hoped that the prior week would bring some kind of resolution to the massive “face-off” I’ve been mentioning endlessly but, sadly, it didn’t. (Although I guess at least it didn’t resolve in a bullish direction). Below are six major cash index charts, all of which in one way or another seem to be at a crossroads reeking of indecision. Either the bulls or the bears are going to be very, very happy with the release of this tension within the next few weeks. I just can’t for the life of me figure out who.
Back in 1997, all a company had to utter during a conference call, or write in a press release, was “Internet Portal” to make their stock go up for no good reason. These days, we live in a more efficient world in which merely two letters are required for the same effect.
