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.
The Clown Show Has Come and Gone
The opening segment from this week’s edition of Notes From the Rabbit Hole has a little fun with the post-FOMC market situation. Unfortunately, there is all too much reality in this clowning around. From NFTRH 387:
Our main theme has been that the ironclad post-2011 confidence in the Federal Reserve among conventional market participants would slowly but surely start to fade because macro parlor tricks, so vigorously employed by the Bernanke Fed, were only tricks or in some cases (Operation Twist) borderline magic, after all.
At biiwii.com (still unsure if or in what capacity the site may reappear) we used to have fun with clown car videos, as the various Fed members piled out honking horns, doing somersaults and shouting incomprehensible phrases and announcements.
Swing Trading IILG WWAV WDC URI EBAY
Will Past Be Prologue?
I never even heard the name “Nicole Eggert” before today, but by chance I discovered that this woman, who surely was the object of fantasy for men across the nation……..
Some Retracement Likely Today
The ES weekly pivot is at 2025 this week and that is in the SPX 2034 area. I’m leaning towards a test of that area today or tomorrow morning because this generally gets tested during a trading week, and the RSI sell signals on the 15min chart and the RSI 5 sell signal on the 60min SPX chart are suggesting that we likely see that test in the next few trading hours before any significant further upside progress.
Longer term though there is currently no negative divergence on the 60min RSI 14 or on the daily chart RSIs so that is suggesting that the rally high is not yet in. SPX 60min chart:
