The above is one of my favorite songs from The Traveling Wilburys, a supergroup in which Petty was a part. Tom Petty’s line – – “Sit around and wonder what tomorrow will bring – maybe a diamond ring” has special meaning for me, because after I got engaged, my fiance and I were driving along, and I played this song, squeezing her hand when Petty sang that line.
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.
This. Is. Genius.
The US currency is up this morning and surprise surprise, gold, among other things is down (gold bugs should not be in worry mode, they should be in general preparation mode… and I don’t mean canned goods and Uni bomber shacks).
Meanwhile, the USD would not be disruptive for US stocks unless/until it gets impulsive and attends a flight to the risk ‘off’ side of the boat. Short of that, a rise in the dollar puts stocks on notice, but doesn’t croak them in real time (as evidenced by the 2014 up phase). Meanwhile, logical rotation is the theme.
If USD goes on to do what I think it will do, the declining black line AKA the 200 day moving average, is the target. So far, so good as Unc is making good progress at turning the MA 50 into support. I am very long pro-USD vehicles. (more…)
Although the ES shook off its federally-forbidden color of red earlier today, the NASDAQ remains down (for the millisecond, at least). There’s no doubt that the strength of the QQQ is relying largely on two patterns which are rather precarious right now. One of them Amazon:
The largest mass shooting in US history, and naturally equities are at lifetime highs again. Incredible. Anyway, one chart that remains interesting is that of high-yield corporate bonds, which remains mashed up at the top of a very long-term channel. I recognize that a dividend was issued, and that partly explains today’s weakness, but the downturn from a few weeks ago is more substantial than the dividend. I’ve provided a detailed view of recent activity.