Well, there goes another piece of my childhood…….
Slope of Hope Blog Posts
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What got me checking into the SEMI data is a goofy MarketWatch article featuring a fund manager who owns the FAANG type stocks at 30 multiples, but has found relative value in AMAT and LRCX, the two Semiconductor Equipment stocks that I was bullish on 1.5 years ago. I know, I know… I sold too soon and that is my issue and I have to own it. But the point is that it was hard to buy then, unlike now.
I last wrote about the SPX:VIX ratio in my post of October 25. I mentioned that if price dropped and held below the 200 level, expect volatility to increase and weakness to set in on the SPX…and, that if it failed to do so, we could see the SPX reach 2600 before such a scenario may ensue.
Since that date, we’ve seen the SPX stabilize somewhat, bounce around above 2560, and, finally, reach 2600 today (Tuesday), as shown on the Daily chart below.
No, this isn’t a plea for the market to stop going up. It’s more useful than that.
One of you helpfully suggested that, with the growing SlopeCharts list of technical indicators, some instructional information might be helpful. OK, done! Now there is a Help button on every tab related to studies, and clicking it will bring up a new page describing the study and how it is used.
And, hey, if you want to give me something to be thankful for on Thursday, I’d like to see you using SlopeCharts. It’s a dynamite product, it’s free, and hey, there aren’t even ads on the page!