It seems hard to imagine that there could be anything resembling a fully intact bear market in this environment, but of course, there is: gold and the miners. The gold bugs index peaked over 26 months ago and has been falling, more or less, ever since. Can you imagine? 26 months. Equities can’t stay in a downtrend for more than 26 hours. (more…)
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.
Dogfight at 1780 ES
Something very unusual happened yesterday. There was a strong bull setup that ended the day looking as though it may have been steamrollered by the bears. That will need confirmation today, and might well not get that confirmation, but if it is confirmed it will be an impressive show of strength from the short side here. (more…)
Miners are Now Utterly Hosed
Falling Wedge on ES
I’m expecting to see a short term high soon, and that might turn out to be a very significant high that will last months. Generally before a significant high we would see equities test the water, as it were, with a first decline before the main high. I suspect strongly that is what we are seeing at the moment, so I’m expecting this move to have limited further downside and to be followed by (probably marginal) new SPX highs in the near future. (more…)
Gold Stocks: ‘W’ or IHS?
The weekly chart of the HUI Gold Bugs index asks a question we have been reviewing in NFTRH for some time now; is the bottoming situation implied by the up-triggered weekly MACD (and confirming TRIX) a ‘W’ bottom in the making that saw its low at 206? Or is it an Inverted Head & Shoulders (IHS), that would theoretically make a final washout below 170 as a ‘Head’ is formed? (more…)
