Come on, baby. Turn this year from good to great. You can do it. How about next week, huh?
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.
My Trendline Pal
As I told my beloved premium members an hour or so ago, I bought the proverbial buttload of QQQ puts near the day’s peak. I’d say – – – so far, so good.
When the Bough Breaks
I have 37 positions, and all of them are crazy-profitable. I just said out loud to myself, “Get rid of some of these, at least three…….” and I went through all 37. I’m sorry. There isn’t a single one that doesn’t look like a “hold”. So I remain 100% invested and shorter than short can be. I will simply say that, yes, as the arrows show, there have been bounces during the unraveling of the idiotic two-month rally, but they’ve been increasingly short-lived. The next crucial thing to break is that trendline point I’ve circled. Break that, and “turgid” becomes “pleasingly painful.”
On The Road To 3910
In my post on Friday I was looking for a fail at the backtest of the 4200 SPX area, and a break down from the H&S patterns forming on the US equity indices and we saw that fail and all the H&S patterns broke down. None of those have yet made target.
SPX has broken back below the 45dma, now at 4030.05, so the reversion to the mean move has been completed and I won’t be posting this chart again for a while.
(more…)Ceilings
I’ll start by saying that I believe we will resume notable weakness before this week is over. Maybe today. Maybe Friday. Sometime soon.
The core pattern driving this weakness, in my opinion, is the clean series of head & shoulders patterns among the intraday charts across important asset classes. Here, for example, is Ethereum futures:
