The VanEck Vectors Semiconductor ETF (SMH) has a fascinating big-picture chart set-up that is loaded with technical information, most of which argues for more downside directly ahead.
More Downside Ahead for SMH
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.
Metals Continue Apace
I doubt there’s a single symbol I’ve mentioned more this year than the metals and mining fund XME. The regularity and clarity of these rounded tops is irresistible.
High Yield Bonds
Looking a bit shaky, I’d say. Gaps are the rule of the day. In this case, the price gap is at 86.18
Transport Fake-Out
I am delighted earnings season is upon us, because it’ll help some reality actually show through the cracks of this totally fake, artificial, Fed-driven lie that we’ve been living through for the past decade. People can just start to see how bad things really are, at least until that self-serving prick Jerome Powell leaps back again to protect his centimillion-dollar fortune. The TRANSPORTS are a nice example of this. Yesterday’s breakout was a total fakeout. We’re all doomed. It’s just that no one realizes it yet.
ETF Triage
Since I’ve been understandably distracted the past week, I didn’t really get a chance to take a hard look at charts until well after Friday’s close. To some degree, I was shocked at just how persistently strong things remain. This is not across the board, however, so I wanted to break some representative ETFs up into some appropriate groups, going from strength to weakness.
The most “bears might as well give up forever” chart I see is the Industrials, that is the DIA “diamonds”. This is a breakout, no two ways about it. Not only is it a breakout, but it is one from a formidable base. Scary.
