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.
This is just a comment cleaner, since I’m pooped and want to lay down a few minutes – – and I don’t have a “real” post ready. But here’s something pretty cool – – we got bees a few months ago. Hundreds of ’em – – here they are, in my back yard…….
They’re never going to make it easy on us, are they? Even though it’s pretty clear that 2,000 on the S&P is a value so absurdly high that people are starting to head for the exits, we still have to have a reason-free morning bid to new highs. Day in and day out. Today’s reason was a supposed “cease-fire” deal in Ukraine, even though the notion that there’s a huge war going on in the Ukraine right now is utterly false. There’s not much “fire” to “cease” (and anyway, what in the name of my personal savior Jesus H. Christ would that have to do with stock earnings anyhow?)
Most of you read my review of David Stockman’s Great Deformation last weekend. Our own beloved BDI goaded me into reading it (and I’m grateful he did), but BDI kicked it up a notch by reaching out to David Stockman to share the review with him. Lo and behold, I now find my review on his home page. I guess it’s a little odd to be star-struck by the Director of the OMB in Reagan’s White House, but I’m a child of the 80s, after all. Thank you, BDI!
Another day of dramatic seeming action with only a small final move on the daily close yesterday, marking a fifth day of consolidation since SPX made the 2005 high. The channel support trendline on WLSH and the megaphone support trendline on Dow broke at the lows yesterday, so all the support trendlines from the August lows have now been broken. That could mark a high being made right here, but the prospects for a move to primary resistance in the 2020-30 look pretty good unless bears can put a whole day together and break the current sequence of higher highs and lows on SPX. SPX daily chart: