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.
Swing Trading AME AMZN CRZO MU MYL
The Fed Often Barks But Rarely Bites
FOMC is the big wild card today of course and it seems fairly clear that the market isn’t expecting a rate rise for quite a while. I suspect that’s exactly right but that is the likely reality rather than the perception. From the Fed perspective they have at least demonstrated last year that they can remember how to raise rates, and the credibility from that tiny uptick then gives any barking they do now about the possibility of them biting again with another tiny rate rise at least some credibility. The guidance given before this meeting today suggests that Yellen will be talking tough today on possible interest rate rises coming and if she follows through on that guidance then there may be a negative market reaction at 2pm. We’ll see.
SPX didn’t make the obvious target at the 2000 retest yesterday and isn’t showing much sign so far of testing that today. Rising channel support closed yesterday at 2000 so unless that test is in the first 90 minutes today that test would then be below channel support. That said, the rising channel on RUT broke down yesterday and I’m not expecting the SPX rising channel to survive the end of this week. SPX 60min chart:
Typical OPEX Insanity
The Waiting Wedge
Well, here we are once again. Instead of an earnest examination of earnings, products, dividends, and chart patterns, we find ourselves at the mercy of a geriatric female dwarf with sociopathic tendencies. It’s an absurd world we live in. As I said on my Tastytrade show yesterday, every single chart is screaming, yelling, and waving its hands, saying “Short!” But given the lunatic madness of this smelly little troll, I’m not going to get bold until she’s hobbled away from the press conference podium, making small but audible granny farts with each feeble step.
