It is the first of May today and the equity markets are at an important inflection point. A break up here with any confidence will most likely run quite a bit further, and a break down here with any confidence has a good chance of delivering a retracement to the 200 DMA on SPX (currently at 1460), and might perhaps even be the end of the current cyclical bull market. I showed the importance of resistance on SPX in this area on the standard chart last week, and here it is on the monthly LOG chart since 1980 today, with some comments on what this setup may say about whether we are still in a secular bear market. This is a really very significant resistance level on SPX regardless: (more…)
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.
