The only ETF I am short now is symbol EFA with a stop at 62.62; here is the recent price action, with some detail showing the trendline break and price gap:
MSCI EAF Breakdown
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.
Deep Shaft
The Metals & Mining ETF tends to slog and churn slowly, but it does so in broad, sweeping cycles. Looking at the entire history of this instrument, you can plainly see a quartet of reversal patterns. I have used SlopeCharts‘ expansion feature to make the future and the downside potential more plain. As always, click the image for a super-big version.
Intermediate Failures
I am not fully convinced this morning’s weakness is going to persist, but I will at least note that almost every important ETF has had its intermediate-term trendline (anchored to March 23rd) broken.
Inner Meaty It
Most of this week has been like watching paint dry. Sure, there’s movement, but markets feel very “pinned” during the normal session. If we take a step back, however, there are two elements which I believe deserve attention: (1) the price gap still intact from last week; (2) the failure, in most cases, of the intermediate-term trendline from March 23rd. Here are some ETF examples:
Homebuilders
Sooooooo………did everyone enjoy that completely ridiculous, totally fake ramp-up from midnight until now? Good, good.
May I suggest a look at the homebuilders ETF and the price gap at 43.98
