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.
In light of the positive February Employment report NFTRH 333 opened up with some discussion of the details (the devil after all, is in those details)…
Employment, the Economy & Interest Rates
The February Employment report was a strong +295,000 with unemployment dropping to 5.5%. In Friday’s Market Notes update we highlighted that per BLS this was a services-driven report as the leading edge of the economy, the smaller but key manufacturing and industrial sectors, have begun to decelerate (notably in forward-looking ‘New Orders’).
From FloatingPath.com (markups mine) we see the breakdown…
I was going to title this post “Told Ya So”, but I figured that was obnoxious, so we’ll keep it more innocently puerile. As I was going through charts (as I tend to do when I’m not driving the family hundreds of miles up and down California) I noticed three particularly interesting charts that I’ve pointed out as good shorts that are behaving themselves particularly well. In this QE-free environment, technical analysis is working one whole hell of a lot better, and this trio of stocks illustrates that nicely. First, there’s Alcoa, which is following its analog beautifully:
I’ve mentioned this ticker once before, but GLUU (Glu Mobile Inc.) is setting up as a fantastic head and shoulders pattern.
The H&S on SPX broke down on Friday and that has a target in the 2054/5 area. SPX 15min chart: