With the S&P 500 down 0.05% today, it might as well have been the 4th day of the Labor Day weekend. Thus, I have zilch to say that I didn’t already say about the market over the holiday. Since I’m surrounded by Russian fencing coaches (or at least Russian-speaking Ukrainian ones) five days out of every week, I feel very at home sharing this amusing little comment cleaner:
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.
Using monthly charts I want to update more big picture views of where we stand in the financial markets. This is just a brief summary [edit; okay it’s not so brief. In fact it had to be ended abruptly or else it would have just kept on rambling] and not meant as in depth analysis with finite conclusions.
I was listening to Martin Armstrong talk about his ‘economic confidence’ model and realized that the way he views gold is similar to the way I do (and very dis-similar to the way inflationists and ‘death of the dollar’ promoters do). I don’t love the way he writes, and I usually avoid these weird interview sites, but checked it out (linked at 321Gold) anyway and found him enjoyable to listen to.
Anyway, this prompted another big picture look at gold vs. the S&P 500 and as with the shorter-term views, the picture is not pretty. (more…)
With all the mayhem, chaos, and terror happening around the world, I guess it should come as no surprise that the most important things on the minds of Americuh are nekked pictures of famous people. The Jennifer Lawrence et. al. hack has been gobbling up the airwaves, and one glance at the CNN home page shows the relative amount of attention (tinted in yellow) it gets versus, say, 88 terrorists being captured (tinted in magenta).
ES made a new all time high overnight, and SPX is getting close to testing the very strong resistance zone above. That has moved up a bit since I was looking at that a few days ago, and on the weekly chart that is now in the 2022-8 zone, with the weekly upper band in the 2022/3 area and rising wedge resistance from the 1343 low now in the 2026-8 area. SPX weekly chart: