When a high of whatever degree is being reached there is very often a first spike downwards that signals that the push is coming to an end. SPX (or whatever) often recovers back to make a new high, but the seed has been sown and a larger retracement arrives shortly thereafter. I think that’s what we saw yesterday in all likelihood. (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.
Weekly Charts – Pre-Fed Day
Hello Slopers,
This is a late post since due to a short summer hiatus (and it won’t be the only time this summer either). But I wanted to get these charts out before Bernanke speaks today (assuming Tim gets it posted before then). Why? Do I think they might help predict what is coming? Not a chance. No technical indicator can do that. In a spastic world where one guy says something and the market goes down and then he says something slightly different and the market goes up – well, forget predicting anything! Indeed, even if you could predict what someone was going to say, you would then have to make a secondary prediction about how the market would react. Suffice it to say that someone else’s words are completely out of your control. (more…)
