Data released this morning shows that:
- the price of goods and services (excluding food and energy) has increased
- personal income has declined
- personal spending has increased
as shown on the three graphs below.
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.
Small Caps Range-Bound for Twenty Days
Gold Loses Glitter (by BBFinance)
The big news yesterday was the sell-off in gold. GLD dropped from $172 to 168 in less than five minutes.
A Promising Start (by Springheel Jack)
Yesterday's bearish engulfing candlestick was on SPY daily chart was a refreshing change of pace. SPY gives a much more accurate picture of opening and closing positions than SPX due to data feed issues at Stockcharts and most other places. No idea why that should be but I've corresponded with Stockcharts about it and they tell me there's nothing they can do to correct this.
As we saw with (cough) AAPL the other week, a bearish engulfing candlestick needs to be confirmed with a lower close the next day. The stats for this aren't encouraging from recent history. This is the sixth bearish engulfing candlestick on SPY in the last 18 month, and not one of the last five confirmed with a lower close the next day. Of those five only one (November 2010) was at the start of a significant retracement. These stats are from an excellent chart posted by my friend Cobra at his subscriber site.
