Slope of Hope Blog Posts

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Meanwhile, Back on Earth

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Same old FOMC yesterday with a lot of wind, a lingering smell, and a vast amount of analysis of a move that was difficult to detect without a microscope, and is largely irrelevant to real world interest rates in any case. Moving on …

SPX tested my target trendline for this move on Tuesday and I was watching for likely resistance there. With the 29 handle decline into yesterday’s low from there I think it’s fair to say that there is resistance there, and SPX may now be in the topping process for the December high, and as I’ve mentioned, we are expecting this high to last well into 2017.

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