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.
The 3 Amigos were a blogger’s way of not boring himself to death while fleshing out important macro indicators month after month.
Amigo #1 (SPX/Gold ratio) got home and dropped from target. What’s more, it has taken back the ratio’s equivalent of the entire Trump rally and that is an eventuality we are very open to on nominal SPX as well.
(more…)It’s really, really, REALLY easy to be a bear when the market is in a free-fall. Everyone loves you. You get bottles of booze in the mail. You get love letters. The whole schmear.
At times like this, the entire world hates you. (well, more specifically, me). I am, once again, the only equity bear walking the planet. Billionaire fund managers, pundits, analysts, and everyday Joes are stock-crazy once more. Everything is going up. Trump and Powell will save us. China is our friend. And so on.
I’ll humbly offer you this long-term chart of the Russell 2000 with its Fibonacci retracements:
Allow me to share a short which, even in the face of all this buying, looks exciting: AT&T. Look at those consistent “lower highs”:
It’s quite evident that the past two weeks of baseless equity strength have infected the minds of everyone, including snarky smoking Slopers who like to pretend the bear market is over. It isn’t. Some choose to be fooled by politicians. I elect to think for myself.
We can see the “spring” in the small caps, for instance, as it nears resistance.
Before I begin, I wanted to mention (again) a very handy feature in the comments section which I introduced years ago: the Ignore button. I get emails from time to time from folks who have no interest in the political chit-chat on the site, or they find certain individuals to be tedious, vexing, or annoying.
This is NOT a hard problem to solve. Just click on the Ignore button (it looks like a “stop!” hand) and, voila, your troubles are over. That person is no longer part of your life.
