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.

Cargo Cult Economics (by Springheel Jack)

By -

There's actually not a huge amount that's interesting on the charts for today, and I'm in a slightly whimsical mood, so I'll show the equities and TLT charts for today and move on to some more interesting charts that I think are worth a look. On the SPX daily chart SPX opened and closed above the upper bollinger band on Friday and hit the probable rising channel resistance that I was looking at as resistance on Friday morning. So far we are seeing reversal there, and as long as that holds, we may well now see a significant retracement that would target channel support, currently at 1400 and rising. There are obvious support levels at 1440 and 1420 (descending triangle top) and I would expect one or the other to be close to such a retracement low:

(more…)