Yesterday morning ES tested the weekly pivot at 2035.5, and then SPX tested the 50 hour MA and then SPX was off to the races again. That 50 hour MA has held on five tests out of the last six trading days and until we see a break below it this uptrend is still very much intact. That first break below would normally also precede the main high, so that main high still doesn’t look close here. SPX 60min chart:
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.
No Country for Old Bears
Well, the three remaining equity bears on Earth got their last hopes blow-torched overnight, as central banks continue to do what they do best – – – ease. China dropped interest rates (because God knows what’s holding the world economy back are the sky-high interest rates we’re all burdened with), and Europe decide to go Full Kuroda on their own “easing” (sending EUR/USD into a free-fall). Suffice it to say almost everything but the Euro – – crude oil, gold, equities – – is flying higher. Here’s the ES (including, for big laffz, the brief bout of weakness it had during the times of Ebola):
