Step by step…………
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.
Overseas Channel
For a full year now, the emerging markets fund EEM has been following a relatively smooth descending channel, bouncing between support (green line) and resistance (red line). It doesn’t always make it all the way to the line, but there’s no doubt that, with all that has happened over the past twelve months, EEM has been pretty predictable with respect to turning points. I’d say it’s getting close to resistance yet again.
A Big Picture Review
In my post on Friday 6th August I was looking at a possible backtest scenario on SPX that could be setting up and I’d like to review how that is looking on my first post this year, as I think that backtest may well be delivered over the next few weeks.
That backtest would be of a huge resistance trendline on SPX that broke at the end of 2021 / start of 2021, and is currently in the 3850 – 3900 area. The break over that trendline may have been a break up over a rising megaphone resistance trendline with a target in the mid 6000s on SPX , but if that is the case, to confirm that target, the trendline would need to be backtested and hold into new all time highs on SPX.
(more…)New Fund=Time To Sell?
A Sell Signal For An Asset Class?
In the video below, I note that Bitcoin has dropped by more than a third since the ProShares Bitcoin Strategy ETF (BITO) launched, and discuss a couple of other examples of similar phenomena that came to mind. The first was when Alliance Capital (as it was known at the time) launched its healthcare fund in the late ’90s. At the time, Pfizer (PFE) was one of its top holdings, and an archetypical one at that. It was selling two of the biggest drugs on the market: Warner-Lambert’s Lipitor (starting in 1996) and its own Viagra (starting in 1998). And yet Pfizer’s share price hit a high water mark a few years later that it didn’t regain until last year with its BioNTech (BNTX) COVID vaccine.
(more…)Channel Support?
Well, since the market was at the highest point in human history just yesterday, it would seem that the bulls are surely due for some kind for relief since they had to endure several hours of selling. It would seem to me one reasonable candidate for a bounce would be tech stocks, since the NASDAQ has, once again, found support at the supporting trendline of its ascending channel:
