Here's an interesting chart of the SPY with Fibonacci retracements drawn. I've anchored the low to the August bottom, since it seems to work much better than October's. We're kind of trapped between two ranges now – – the one from earlier this year, and the one from this summer. Something fundamental is going to have to reveal itself to make the market decide which range it's going to invade.
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.
Overpaid Fundamental Analysts Blow It Again
And, yet again, the incredibly-overpaid fundamental analysts paid as the shills of Wall Street Banks (big reforms of 2002 notwithstanding) show their value yet again. We see below, when NFLX was over $300 per share, that 25 analysts issued Hold/Buy/Strong Buy ratings. A mere 8 had a negative recommendation. In other words, over three-quarters of the analysts felt the stock was a winner.
Nothing changes. Ever.
Energizer Bunny (by Springheel Jack)
A big move up yesterday and then some retracement overnight followed by a push to a new high on ES. SPX hit the 61.8% fib retracement at the high yesterday and is now in a very key resistance area:
