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.

“Shock Event” for 3 Top Insurance ETFs

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Price on three top Insurance ETFs has been dropping since mid-August, as shown on the following Daily charts of IAK, KBWP and KIE. In the process, they made some extreme lower swing lows on each of their respective three technical indicators, suggesting that further weakness lies ahead.

As of Friday’s close, they are trading around their 200-day moving averages, so failure to regain an upward bias from that level could spell further sharp drops for these ETFs. Watch for any major volume spikes on further weakness to indicate possible panic selling. In the short term, we may, first, see a retest of their 50-day moving average (possible “Dead Cat Bounce”) before the next leg down occurs. (more…)

Tech Sector Close to Forming a “SELL” Signal

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The Technology ETF (XLK)  is close to forming a “SELL” signal. Two of the three technical indicators on the Daily chart below have done so, as of Friday’s close, while the RSI threatens to join the MACD and PMO if it crosses below the 50 level. Price action this week, following its all-time high made last Friday, has been overly bearish.

Watch for a potential retest of the 50-day moving average around 57.00, or lower to, even, the 200 MA around 53.00, on signs of escalating weakness.

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Pop Chick-a-Pop These Cops

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Well, it’s the same thing for my trading today – – “profitable yet annoying.” I guess it beats “losing and soothing.”

Some of my strength is coming from semiconductor shorts. Let’s face it, most semi strength lately has come from the totally retarded ascent of cryptocurrency, which seems to be kind of hitting some rough patches, after hitting the laughable $5,000/bitcoin level.

0908-bitc (more…)