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.
Here in my hometown of Palo Alto, the fervor about real estate is definitely gone. A couple of years ago, it was absolutely manic (see chart below, which you can see yourself in SlopeCharts with the symbol $PALO). Chinese buyers were paying all cash. Facebook and Google employees were trying to outbid each other on single family homes. And lucky ducks like me who bought in 1991 had to smirk at how the values kept lurching ever-higher. Not anymore.
I was taking a close look at FAANG this week. It was interesting that every single one is on some kind of intermediate support. As much as I would like to bring a bearish prize to the slopeofhope ready for a mauling, I think this lends evidence to the argument that the S&P500 is in for a months long rally. Back in September, XLK, the tech ETF SPDR was in a large rising wedge. Rising wedges break down into channels. Look where we are now. (click any picture for a larger version)