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.

A Moment Of Truth – Day 2

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The NFP numbers on Friday morning were a very big miss, with significant revisions down in the April and March numbers as well. All the indices tanked hard but double top support on SPX wasn’t significantly broken and most of the decline was then given back on Friday. That made Friday the third straight day on SPX that started with a decline and the ground up for the rest of the day in a 70% bearish rising wedge. The first two of those broke down hard the following morning. We’ll see how the third one does this morning. SPX 1min chart:

160603C SPX 1min Last Three Days

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‘Inflation Trade’ Alive and Well

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I don’t write the title because the precious metals took off Friday on the bad jobs report. Far from it. That is what gold is supposed to do under such circumstances as its fundamentals got a boost and the perceptions of a hawkish Fed got repelled.

I write the title despite the fact that the inflation barometer, TIP/TLT, tanked and commodities were moderate, post-jobs. Yesterday we noted: Inflation Expectations Sagging, including a declining TIP/TLT and a bullish looking TLT (each a form of non-inflationary signaling). Friday they got bearisher and bullisher, respectively.

tip.tlt (more…)