The charts are super interesting to look at. How quickly things turn, as if on a dime.
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.
Global Multi-Market/Asset Chart Review
First off, a wish to all readers for a happy Memorial Day weekend as we remember loved ones lost in battle and otherwise. Memorial is not a US thing, it’s an everybody thing.
Today we take a look at various markets and assets using daily charts of the associated ETFs.
The real work in determining the state of the markets going forward will be done by evaluating internals measures like sector leadership (e.g. our SOX>NDX>SPX leadership chain), inter-market and inter-asset ratios (e.g. our ongoing gold ratios analysis), macro indicators (e.g. the recent notable drop in inflation expectations) and a whole host of other hidden markers to be tracked and updated (NFTRH is constantly on that job looking forward to the potentials, as opposed to in review or in rear-view). Also, let’s not forget sentiment analysis, which led us to the current correction. It will also come into play going both ways in the weeks and months ahead.
(more…)Precious Metals Week
After an interesting week and to allow more focus on charting the miners this weekend, we again offload much of the NFTRH Precious Metals segment’s content to the public site. The following is (hopefully) going to be long on charts and relatively short on words (sighs of relief palpable…).
HUI/Gold Ratio is intact to its higher lows from September. This was a logical bounce point for gold stocks. HGR needs to promptly take back the SMA 200, however.
(more…)Goldilocks Now, But She’ll Be Vanquished
Just one look at the daily chart of SPX tells us – in hindsight – that this may have all been about gap acquisition. I was completely right and righteous to be bullish on the Christmas Eve massacre low, right on up to the 50 day moving average, which was the original target.
After that I was compelled by the market’s technicals to be bullish for a drive to the SMA 200, and then 2815 resistance, and then… a top-test. I not only felt not righteous with these compulsions, I felt a little soiled. Hey, it’s just a human (as opposed to a newsletter writer/market commentator) talking about human feelings.
(more…)Precious Metals: Wash, Rinse…
Before the promotional corners of the gold community start with the conspiracies, excuse making and general placing of blame everywhere but where it belongs, let’s simply note that this correction was indicated (by sentiment) as far back as February 22nd. On that day I made a post quoting three anonymous sources within the community, firing up the troops to be hyper bullish… as in a gold price of $1400 promptly before a “parabolic slingshot” on the way to $3000 off of a “gargantuan pattern” (that had not even appeared yet and was but a figment of a fertile imagination).
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