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.

Breaking Trendlines (by Springheel Jack)

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I was watching three key levels on SPX, NDX and RUT yesterday and they all broke up. NDX broke up fairly early in the session and the others at the close. EURUSD also broke the declining resistance trendline, and ZB broke the rising blue trendline from yesterday morning's chart and has been testing strong support in the 142 area overnight. These were all significant breaks and as a group they strong suggest that this rally has further to go, though at over 90 ES points up at the close yesterday from the Tuesday morning low, we might be seeing some retracement sooner rather than later.

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Positive Jobs Report Negative for Bonds

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Well, the jobs report was released, and the equity bulls are delighted. The bond owners? Not so much.

I mentioned on Tuesday how being short the TLT was "my favorite idea" right now, and it seems to be going well thus far. Looking at the @ZB this morning, it looks like a bad day for bonds (and this doesn't even reflect the latest price, which is lower than the chart reflects)

1007-zb

I guess the action in TLT yesterday confirms was Slopers were saying – – that the jobs report would be a good one. TLT looks like it has a long way to fall, yet.