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.
Well, I’m probably going to go dark until after the close. Best of luck, everybody. Here are a couple of gap values to watch on two very interesting equity indexes.
My house is a house of disease this week. My wife caught a virus, then my daughter, and I wasn’t feeling great yesterday though I was hoping that I was just tired. Today however there is no doubt that I have this virus too, and I’m feeling like a million (zimbabwean) dollars. I’ll be fine in a day or two but in the meantime I’m just struggling through.
SPX had a solid day yesterday and confirmed the break over the daily middle band. That’s now in the 1961 area and should be support. Ascending triangle resistance also broke on both SPX and Dow near the close. Does this mean that the bulls are good to go? Possibly, though as a buy setup this is still very unappealing, as you can see on the charts below.
Let me gaze into my crystal ball, with the confidence of a genuine guru* and the vision of a mystical Swami. Sifting through my notes about leading indicators, low unemployment, but also cratering public confidence, I see… (not that you should give a damn what one faulty little participant sees)… but bear with me now as I render the great forecast…
I see the Federal Reserve folding again today, perhaps with some stern words imploring us to stay vigilant for a rate hike coming before year end. In this scenario another small chink in the armor of impenetrable post-2011 confidence in these clowns would be had.