Time once again for a review of the big picture, because… perspective. For example, in my mind I feel that training has been done to not expect a real whopper of an inflation trade. That was from the conditioning of the global deflationary force, post 2007. Yet the technicals for industrial metals are bullish for more upside, as you’ll see below.
Anyway, here are big picture monthly charts with limited word interference from me (and hence, not comprehensive analysis). It’s just for your own individual reflection if you’re even into this stuff like I am. (more…)
Obviously the bears have had serious issues achieving anything recently, and yet again today they have delivered their signature matching lows at the current lows of the day, but there is a decent chance that there is at least some more retracement coming in the next day or two, with all of the hourly charts on SPX, NDX and RUT currently on RSI 14 sell signals. I’m not expecting anything impressive, and the structure here is suggesting that will be at least one more leg up after that, so if seen this larger retracement should be a dip buying opportunity into new all time highs on SPX and NDX, and possibly on RUT as well. (more…)
Another day, another SlopeCharts improvement. We have deepened the historical data for indexes and added a couple of new ones. Those of you who are Plus subscribers can, of course, fetch my own list of 36 indexes (and the mark-ups) via the Publish feature to which you have access (just look for my watch list cleverly titled “Indexes“). Here’s one new index, the Dow Jones Composite, which goes back to January 1966.
Hard to imagine this place was bankrupt in 2008 – – – anyway, this has gone very far, very fast, and I suspect it’s time for it to ease back over the next few weeks.
A quarter of a century ago, when I ran Prophet’s first advertisements, I used the headline “Data Done Right” to stress the importance of cleanness in our data. I must say, however, there’s something in the financial information industry which has had all those decades to get right but still hasn’t, and it’s these “after hours” pages big financial sites run.
Ostensibly, these are places where big after-hours moves, both up and down, are highlighted. They could be driven by earnings, corporate news, or anything else, and if the data was accurate, they would be interesting both after the market closed as well as in the morning before the open. The problem, though, is this………