Well, look, I've got a school Christmas concert to attend, and although you should still watch my video, I couldn't neglect to at least honor this moment of Boehner-induced mayhem (did the ES really reach 1391?!?!).
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.
A couple of stocks I like to follow are GS and JPM to
forecast pivot turning points in the US stock markets, particularly the SPX.
You can see how JPM and GS appear to be tracking the SPX
well and that it’s my belief that if we can track potential Elliott Wave counts
in both Goldman and JPM,we can find an edge to the US markets and use that
information to forecast major peaks and turns in the US stock markets.
If you overlay SPX, GS and JPM with each other, there is
a clear bonding between the 3 markets.
Fifteen minutes before the close Wednesdayit looked like the bulls were about to claim victory for the third straight day. But, to the bulls' dismay, the bears made a last minute appearance. The push lower took the S&P 500 (SPY) from $144.90 down to $144.00, which is where it sits after the close.
The move doesn’t seem like much, but the S&P was higher almost 1.0% Wednesday, before eventually closing the day down roughly 0.75%. If the bears are serious a move below $142.50 would have to occur before they are taken seriously.
Even after the move lower Wednesday, there are still several key ETFs that are in a short-term overbought state. I am watching FAS closely and EWY, the South Korean ETF. A push lower in FAS would certainly be a sign that the market in general is headed lower which would be wonderful for my SPY bear call spread. However, I am a but more interested in EWY.