There are times I think of dusting off my FOREX account again, since some really clean patterns ocassionally show up. One example is the New Zealand kiwi/US dollar cross-rate, which broke cleanly in 2008 and never looked back. We saw the same thing happen earlier this year, and I think the swoosh lower is just going to continue. (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.
The stock market is losing its Ponzified funding mechanism as T Bonds tank…
Well, our old favorite Abercrombie & Fitch got knicked for a 20% loss this morning; I covered and took profits straightaway. For some reason, this stock and I usuallly get along really well.
I’m not keen on FOMC days, and even by usual standards yesterday’s FOMC action was pretty wild, which was odd as essentially nothing new was revealed. On the wild spike up after after the first spike down the declining channel on SPX was broken and I posted a very nice technical rally scenario on twitter. Even after the next wild spike down yesterday that is still very much in play as long as yesterday’s low area holds, and so here is that chart that I posted then. SPX 60min chart: (more…)