A very solid bounce off main rising wedge support yesterday, and an IHS broke up in the afternoon with a target in the 2084/5 area. If the bulls can follow through today then that is the next big target. SPX 5min 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.
Cramer’s Sense of Smell
I don’t think there’s been a blogger roaming the streets of Palo Alto more bearish on crude oil than me, and to date, that has worked well. Cramer famously announced a few weeks back that oil’s price “smells like a bottom” (which, again, is the kind of olfactory proclamation that passes for analysis, versus my carefully-crafted charts). I personally think the prospects for energy smell more like Cramer’s own bottom, but we shan’t explore the topic further.
Gold Sucks!
By Biiwii
Ben Kramer-Miller, a fundamental gold stock analyst who I keep an eye on, recently had an article at SeekingAlpha called Gold’s Bull Run Has Not Yet Begun. I remember taking note of the title when it came out, but as is usually the case I did not have the time, nor the inclination to read it. I like to keep my own thoughts square and balanced and don’t need other peoples’ thoughts on gold clouding my own.
But as I was fooling around over at the St. Louis Fed’s website (it is recommended that geeks register for a free account) doing the following charts I remembered ‘oh jeez, I think somebody’s already on this topic’. So I checked it out and sure enough he did gold vs. the Monetary Base using a graphic from the also-recommended MacroTrends website. Anyway, preamble behind us we move on…
