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.

Crude Again

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I did a post yesterday which stated, “The bull market in energy that started January 20th is over. I can’t be more plain about it.”. I was surprised at the reaction. There was a lot of jeering and mocking, and a new troll appeared to slam me (which got upvotes from some Slopers I thought were a bit more loyal than that).

And yet with a HUGE explosion higher today across the board, thanks to a killer jobs report, here’s what crude is doing:

0708-crud

Imagine what it would be doing in a weak market.

Anyway, it’s nice to know who my true friends are on my own blog. Sheesh. I’m going to keep focusing on energy shorts.

WTIC Crude Oil & Canadian Loonie

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If WTIC Crude Oil breaks below it’s current (very tight) uptrend line, watch for the Canadian Loonie to tank.

As shown on the following 5-Year Daily chart comparing the two, they normally trade lock-step. Note the recent divergence of the Loonie starting in April and the fact that the RSI and MACD have fallen below the 50 level…which are hinting of further weakness ahead for Oil.

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