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.
Well, this is just where I want to be. It’s Monday. We’ve got a full week, which means we don’t have to close the market for the Floyd Celebration Festival or something like that. The new server appears to be humming along. And the market is so insanely high, I’m like a kid in a candy store.
The /NQ reached record highs this morning (of course) but appears to be getting a bit raspy at these levels.
In my last post on oil and natural gas I was talking about starting to do a post every week or two reviewing a single instrument that I cover in my futures and currencies charts on multiple timeframes to sketch out the higher probability paths going forward. This is the first of those posts, apart obviously from my earlier posts on oil and nat gas. I’ll be aiming to do one of these posts every week.
This week I’m going to look at a very important inflection point that looks likely to be coming up on US treasuries over the next few months to a year. I wrote in January on the TNX daily chart below that I was expecting a possible topping pattern to form, either a double top or an H&S after a test of the obvious possible H&S neckline at 32.53.
(more…)My own website, Slope of Hope, provides me all the market information I’d ever want, so I’ve never bothered subscribing to anything else. That is, until about a month ago when discovered Current Market Valuation. What’s cool about CMV is that, unlike my chart-focused Slope, it is completely focused on long-term fundamental and economic data to draw its conclusions, which are by their nature devoid of emotion, interpretation, or agenda.
Having said that, here is where its aggregate analysis stands right now. Perhaps you have heard the term “pegging the meter“. It certainly applies here. It has NEVER been this hot.
On election day I was writing that the huge news this week would likely dominate the markets, and the first and larger part of the news is in, with Trump elected President again, and markets breaking higher in response.
I was also writing a few days ago about two unfinished business targets above that I was expecting to see hit within weeks and they were a new all time high on QQQ (done), a retest of the 2024 high on IWM (done) and possibly a retest of the 2021 all time high on IWM (also done). That has cleared out the unfinished business targets above so today I’m going to be looking at possible targets higher on the US indices.
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