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Slope of Hope Blog Posts
This is the heart and soul of the web site. Here we have literally tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. You can also click on any category icon to see posts tagged with that particular category.
On the surface, Trump’s 1st 100 days (since election) ‘comp’ well with JFK, as well as Bush 1 and Clinton. Each of these presidents saw successful markets for the rest of the year. From data supplied by Bespoke (whose premium service is a good market data source) I created this table showing the S&P 500’s ‘1st 100 days since election’ percentage, the largest decline from a closing high, the next 100 days and the rest of the year (ROY).
Bullish, right? JKF, Bush 1 and to a lesser degree, Clinton would say so.
I made Eagle Scout when I was only thirteen years old. I was confirmed into the Methodist church before that. I was literally a choir boy, as well as an acolyte. And, as a fully consecrated Christian, I say the following in full sight of God almighty: anyone who thinks this market should be bought is out of their fucking mind. Amen.
SPX didn’t quite make the ATH retest I wanted on Friday and delivered it this morning with a gap through channel resistance. Channels don’t overthrow so that is a clear resistance break and opens higher targets. SPX 60min chart:
Nonstop rain and flooding this winter (easily predicted by constant coverage of how California was going to be in a century-long-drought at that you-know-who blog) created big delays in airport travel last night, meaning that my pickup of family members at the airport didn’t happen until, oh, three in the morning. Having gone to bed at 4:30 a.m., I’m bright-eyed and bushy-tailed on this pitch-black morning.
Anyway, gold (which I am bearish by way of a DUST position) is down nearly ten bucks as of this writing. Breaking that blue trendline would be a very good thing.