It’s a super pattern, and it’s green on a day like this. Looks like a buy to this old bear.
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.
Gold Bear Saucer
Just a quick graph of something I’m tracking – – the triple-bearish ETF based on junior miners, symbol JDST. As unlikely as it sounds, it certainly does seem to be forming a very well-formed bullish saucer, years in the making. This would imply a big collapse in miners shares ahead, should the breakout transpire with the chart below.
Oil Strength
I did a “crude oil is gonna go up” post recently, but I wanted to pile on with this Fibonacci arc graph of the continuous contract:
Oil Ready to Rally
Oil fell pretty much nonstop from October 3rd until November 23rd. At that time, I pointed out the magenta horizontal (shown below) as well as the blue descending trendline, each of which I felt would act as support. So far they seem to have done so, and as rapidly as oil fell, the “bounce” could be just as swift (although certainly not with enough power to recover all those losses).
FAANG(ks) Giving Rally Incoming?
I was taking a close look at FAANG this week. It was interesting that every single one is on some kind of intermediate support. As much as I would like to bring a bearish prize to the slopeofhope ready for a mauling, I think this lends evidence to the argument that the S&P500 is in for a months long rally. Back in September, XLK, the tech ETF SPDR was in a large rising wedge. Rising wedges break down into channels. Look where we are now. (click any picture for a larger version)
