Apple needs to claw its way to a 682 print to trigger a new buy signal. Barring such a print, current strength represents a recovery rally within a still-active sell signal.
Originally published on MPTrader.com.
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.
The Incredible Shrinking Dollar (by Springheel Jack)
I was wondering aloud earlier this year whether the very bullish long term setup for USD had a serious chance of playing out while Bernanke and the Fed were the guardians of the US Dollar's value. It looks as though that question may now have been answered, with the US Dollar collapsing under the double whammy of major QE starting in Europe and apparently in the US as well. I say in the US as well, as there seems to be a solid consensus that QE3 will be announced by the Fed tomorrow, and I'm assuming that must be due due to off-the-record briefings and pre-announcement spin by the Fed. We'll know for sure tomorrow.
Overnight the German Constitutional Court ruled that the ECB bond buying program could proceed, undeterred by the clear breach in spirit of both the German constitution, and the EU laws inserted by the Germans when the ECB was founded that were designed to avoid money printing. Nothing new there however, the Germans also insisted then that clear rules were made to prevent potentially insolvent countries from joining the Euro, and those were ignored by everyone subsequently as well. Why mess with a winning strategy?
