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.
This Permabear is Buying DANG
This is a beautiful, beautiful chart, with a target price of 12.81
A Moment of Respite
Liquidity Junkie (by Springheel Jack)
What a liquidity junkie this market is. The Fed announced essentially no change yesterday and markets tanked across the board, equities, bonds, commodities, EURUSD etc, precious metals. Absurd. Equities have been rising ever higher on the expectation of a QE3 that has become ever less likely as it has risen, as the purpose of QE3 would be above all to boost asset prices, and if they are already high then why would the Fed do it?
Be that as it may we are at a major inflection point today now and it could very much go either way. My favored scenario is still that we see a bounce on SPX at rising support from October in the 1397 SPX area before a move up to test the 1442 SPX pivot, with a very possible interim top there before the usual summer weakness. That would be the best technical scenario but that doesn't mean it's going to happen of course. Here's the updated SPX chart from yesterday:
