Consumer staples…….
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.
Pre Market Review Video
Everything going as planned on the bull scenario so far with SPX breaking up yesterday and closing back above the daily middle band. We may well see a backtest today but the main thing to watch is that SPX doesn’t deliver a rejection candle that invalidates yesterday’s break up. I’m not expecting to see that but it’s always something I watch for after a middle band break.
As long as we don’t see that rejection candle we’re looking for a retest of the ATH and possible higher high with an ideal target at that retest or in the 2210 area. The high window opens tomorrow and lasts a week or so. We are expecting to see a significant high in the window that would be followed by a larger retracement.
Pre Market Review Video for Daily Video Service subscribers at theartofchart.net:
Lower Highs
It’s a new day, but more of the same: everything is green. The “soothing” (as ZH put it) Fed has put the world at ease, and everything is being bid up.
I would point out something interesting about this lift, which is that in each case, we are painting out what appears to be another in a succession of lower highs, whether you are looking at crude oil……..
Unchanged
Well, today was a drag for the bears (if there are any besides me left in the world), although after 7.5 years of this crap, it should be old hat by now. Even though the Fed changed nothing – – – let me repeat, NOTHING – – the market rallied as if some awesome good news had been dropped into its lap. The NASDAQ went up to its highest level in the history of humanity:
