Received in the mail two days ago:
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.
These are the results of Europe's ECB LTRO 1 & 2 programs (Daily chart of the European Financials ETF, EUFN)…you be the judge as to whether they have worked.
I'm going to post a lot of very bearish looking charts today. That doesn't mean that equities are about to fall off a cliff here, but it does mean that there is a real possibility that they will. The 2012 potential topping patterns I've been posting for weeks have now all completed forming more or less, and we are at the point of decision where we either rally, or break support to go considerably lower. That point of decision for me is 1340 SPX. If 1340 breaks that opens up a lot of downside, and if it holds then new highs for 2012 are still in play before a bigger correction in the summer.
On the SPX 60min chart the sloping H&S I've been posting broke down and retested on the bounce yesterday. This is a very bearish setup unless the neckline can be recovered with confidence, and even then it looks ominous and would be reason for some caution on the long side. On a continuation down the target is in the 1290 area close to the October high at 1292.66: