Our friends over at ZeroHedge report that China is about to deep-six their Yellen equivalent and replace him with someone more willing to do the bidding of the bankers. In other words, flood the world with even more liquidity than it’s already got (as if the countless trillions weren’t enough). The clip below instantly leapt to mind, because I think it beautifully captures the perverse and gross phenomenon we’re witnessing among the central banks of the world during these dark times. They simply refuse to choose the vanilla paste.
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.
Flogging a Dead Cat
Last Wednesday I was warning that the odds were better than two to one that SPX would make a marginal new high and then come back to make a lower low, and SPX came within four points of making that lower low yesterday. You can see that post here. SPX hasn’t made that new low yet, but the RSI 5 / NYMO signal that I was using to make that prediction has now made target as the daily RSI 5 closed at 30.84 yesterday, and there is a visual hit of the 30 level on the chart, so I’m treating that signal as completed to target.
That isn’t quite the end of the story though, as there is still the matter of the lower low outstanding, and also the matter of the double top that has now formed on the SPX chart, targeting the 1938 area on a break below the last low at 1978 48. (more…)
