Here’s today’s swing-trading watch-list:
Long American Express (AXP)
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.
Short Term Crossroads
SPX is at a short term crossroads today, as Stan and I were discussing in Chart Chat yesterday. You can see the recording for that here. The option I outlined was a double top that would target the 2068 area on a break under 2080. That would be just above the 61.85 fib retrace of the move up from 2052. Stan was looking at a possible break up through triangle resistance into the 2120 area. We agreed it was a coin toss but so far SPX seems to be favoring the double top and retrace scenario. SPX 5min chart:
The Neverending Story
This is a comment cleaner, and little more, but I will say this: if there’s one core thing I’m worried about these days, it’s when the steady descent of crude ceases. This thing has been nothing short of spectacular. My dumb guess is that we’ll see the high 30s before we get any bounce-back. In any event, I haven’t seen a drop this steady in anything else for a while:
When Internet Zillions Slipped My Grasp
I’ve been writing this blog for so long (over a decade), I sometimes despair that my uninteresting life will stop yielding anything worth writing about. Yes, the blog is principally about technical analysis of stocks, but I like to share anecdotes from time to time, and every time I compose a good anecdote I figure that, welp, that’s the last shareable morsel of my life. So far, though, I wind up thinking of another one, sooner or later.
So here I am again.
Grossly Inflated Gargantuan Asset Prices
Humbly Submitted by the Macro Crotch Shop
STEALTHFLATION: An intractable economic condition that inevitably arises as excessively issued fiat currency compulsively pursues non-productive wealth assets in a grossly over-leveraged economy, which has been artificially reflated by the Central Banking authorities, in a misguided attempt to synthetically engineer growth via extreme monetization. (ie: Counterfeit Quantitative Easing & Interest Rate Suppression)
This ill-advised monetary regime effectively prevents the real economy on the ground from realizing the healthy normalization of free market forces crucial to genuine capital formation, authentically derived from bona fide industrious production generating actually earned savings, the very life blood essential to inducing legitimate and sustainable economic growth.
