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.

Early Weekend. Right Now. (by Springheel Jack)

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I spent quite a while writing this morning's post, but I was slowed down by some firefox issues and then the hard break down on equities made my post rather out of date shortly before I was going to publish it. Some days it's just not happening, so I'll just post my central ES chart today which shows the rising wedge I posted on twitter yesterday and shows the target support trendline if this wedge is going to evolve into a channel:

I'm expecting a retracement going into Tuesday or Wednesday next week. There's decent support in the 1330 area and 1318 area. I'm looking after my children for much of the day but I'll check in every so often.

That Darned Truthiness

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Here we go again.

And again and again.

The bulls gouge out the eyes of the bears with their optimism, Pandoras, LinkedIns, Groupons, green shoots, bailouts, rescue packages, and Zuckerbergs.

Then the bears turn around and gouge the eyes of the bulls with The Truth.

This is getting really, really old. The Truth needs to hold sway for more than a few days. The Truth needs to set us free. Because I'm sick of the bulls fooling enough people into thinking everything is Hunky Dory when it isn't.

Anyway, below is the false breakout of false breakouts; just moments before the release of the jobs number, the bulls were jabbing their fists in the air since the market was breaking to new highs. Once reality set in (which is the already utterly inflated jobs numbers showing the economy is still really weak) all hell broke loose.

Welcome back to reality. Enjoy it while it lasts.