Slope of Hope Blog Posts
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I’ve almost certainly pissed ‘n’ moaned about this before, but it warrants repeating: specifically, the security questions that security-sensitive sites (such as banks) demand you create when setting up login information.
Now I have no problem at all setting up security questions…..as long as they (a) have a DISCRETE answer (b) post a question whose answer I can easily REMEMBER. A good example of a security question is “In which city did you get married?” That question is discrete (there is one and only one correct answer), and I can remember it very easily.
Want to see examples of BAD questions? Here they are, courtesy of the HSBC web site! (more…)
Yesterday morning’s bear flags broke down harder than expected and on SPX the move delivered a hard test of the daily middle band. That’s not inherently bearish as long as that holds as support and it did. Unless that changes the obvious target remains a full retest of the all time high. SPX daily chart:
I was very impressed with these two charts from Elliott Wave International, which they have kindly allowed me to publish here on Slope.
So……..is that it? Is the all-clear siren wailing? Has the third missile scare come and gone without a trace?
Anyway, I’m typing this before the open, and it’s dullsville again. Equity markets are somewhat positive, and crude continues to have the jitters as Irma roars through the Caribbean.
My main focus is on the small caps, as illustrated with the IWM below. They have been in a strong uptrend ever since the February 2016 bottom, but that broke at the start of last month. In the past few weeks, there was a powerful counter-trend rally, but that may have snapped yesterday with a big bearish engulfing pattern.
This morning, naturally, we’re getting some fight-back from the bulls, but keep your eye on the longer-term picture.