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.
To review our stance, which is years along now, the gold sector is not going anywhere until it becomes widely accepted that developed stock markets, including and especially those in the US, are in bear cycles. We have also drawn analogies to the Q4 2008 event that took place in what felt like a nanosecond compared to today’s long, drawn out process. For this reason, a better ‘comp’ has been the 1999 to 2001 time frame. That was a process as well.
Regardless, gold boosters viewing inflation as the reason to buy the sector are still out there pitching, but even they have retooled their pitches for a deflationary world. It is now and always has been a global economic contraction environment (assuming it eventually coerces policy makers into inflationary actions) that would be the primary driver of the next gold bull market. Say, whatever happened to all the stories about China demand, a China/India love trade, supply/demand capers on the COMEX and ‘US jobs to spur inflation driving big, smart institutional money into gold’ anyway?
Here’s today’s swing-trading watch-list:
Short Oracle (ORCL)
SPX has been compressing for a few days now and we are going to see a move very shortly. I’m leaning long for that move but it’s possible both that any new high will be marginal, on the possible rising wedge option, or we may go straight down through support, on the double top option. Only if bulls can convert possible wedge resistance into support does the IHS target open up as a target, and even then there is significant resistance both at the daily middle band in the 1930 area, and possible channel resistance in the 1940 area. SPX 15min chart: