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.
So Here We Are Then
Last Friday I was saying that my preferred scenario on SPX would deliver a marginal new rally high to make the second high of a double top to then take SPX back into the 2600-50 area. We have seen that marginal higher high, the middle of this cycle high window is today, and the stats for next week lean significantly bearish. If everything keeps going to plan then SPX is about to reverse down here and this high may be the 2019 high, though I’m still wondering about a possible ATH retest after the next big low window in June.(more…)
Thar She Blows
I did a post yesterday called Circus Tints, in which I wrote, in part, ” The yellow zone I’ve tinted above runs from 2825 up to 2865, a 40 point range (the math checks out). This is the “super easy” range for the bulls, because there’s absolutely nothing stand in their way in this range. “
Well, 2825 has been breached, and we’re ripping into the “super easy” zone right this second. The bullish grip on the market has tightened even more.
- The seminal trade deal between China and the U.S. that was signed before the March 1 deadline;
- And the subsequent elimination of the trade deficit (indeed, now a massive trade surplus, quite positive for the U.S.);
- As well as the completion of the Mexican-funded border wall, which has sealed off the country……..
The VIX has been almost destroyed, having dropped from the upper 30s down to the sub-teens. The market literally has not been this give-me-another-bong-hit calm since last October 2nd.