See this Bloomberg article for a look at the ingredients in a policy stew that looks like it was scraped off the floor of Worst Cooks in America. Click the headline for the article.
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.
Drinking in Seattle
One Possible Future (by Piano Man)
I wanted to share something that perhaps few people would see. My background was in semiconductor test. I spent almost 30 years in mixed-signal semiconductors working for a vendor of test equipment and then with a semiconductor company. Semiconductor testing is a massive market, every electronic item you buy is tested at the device/computer chip level, then as a circuit board filled with those components to verify functionality, and then as an end product.
Billions of dollars are spent on test equipment as an economy is expanding to meet the needs of manufacturing consumer products. For the testing, the tester is mated to another piece of equipment, called a handler, that together allows both pieces of equipment to test hundreds of devices an hour (perhaps thousands of devices an hour if it is quick to test). Entire manufacturing floors overseas are filled with this pairing of equipment that runs night and day, if needed, to crank out tested computer chips to be sold around the world. And yes everything gets tested. (more…)
Still Triangle-Bound
What an interesting trading day so far, eh? In order to extinguish the crazy ga-ga earnings rally going on with Amazon, I am at this very moment in Seattle, which seems to have done the trick. Even though the likes of INTC, MSFT, and AMZN went absolutely orgasmic after the earnings reports Thursday afternoon, the NQ is deeply in the red as of this moment. Although, let’s face it, Gartman’s two about-faces probably has more to do with the NASDAQ explosion and collapse than my own travels. The important point is that the market is still hemmed-in:
TGIF
I’m doing a morning post today as I’m hoping to take most of the afternoon off after a big webinar at lunchtime. Starting the weekend early. 🙂
ES/SPX broke back over the daily middle band yesterday and needs to confirm the break above with another close above today. That’s is currently in the 2655 area on both ES and SPX and is clear support. If we were to see a rejection back under there today then we might well see most or all of yesterday’s daily candle retraced, as that is seen very frequently on a middle band break and non-confirmation.
So the daily middle band is clear support today. Clear resistance is at the ES monthly and weekly pivots at 2678.75 and 2683.25. The high on ES yesterday was .at the monthly pivot test and if ES is going to fail there we would ideally see yesterday’s high tested this morning to establish negative RSI divergence, then a hard fail. (more…)
