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.
This year has been an embarrassment of riches when it comes to beautiful charts. Here is another one: the MIdCap 400 ETF symbol MDY. Take note of the two instances in which the trendline, formerly support, now resistance, did a beautifully job shoving prices right back down where they belong.
I was saying in my premarket video on Monday morning that ideally what we would see this week is a rally on Mon/Tues, and then another leg down on Wednesday through Monday next week in line with the very bearish historical stats for these four days. So far that has delivered well, with FOMC on Wednesday delivering the next leg down I was looking for. If you’d like to hear that premarket video every morning that is included in our Daily Update Service and you can get a 30 day free trial here.
(more…)I have gone through my charts, and let me just say this: I think this breakdown has ONLY JUST BEGUN. Allow me to share some absolutely ball-retracting charts representing my largest positions. Take note of the fact that there’s nothing but empty air molecules beneath present price levels.
I’ve mentioned the health care ETF XLV as a terrific short (by way of its diamond top). This is unfolding beautifully.
Like I said a few months ago, we need to sometimes check under the hood of the ETFs to understand where things could possibly be turning. In addition, we may be able to find some opportunities to find sector leaders for whatever direction we are looking for the broad market. I have focused on the big FAANG stocks (I expanded this to include TSLA and MSFT as well). I am pointing out some potential entries and targets for these in this bear market.
