Wednesday was quite a day! So many indexes had reached their highest levels in human history, but then – – – as the kids say – – things went sideways. I wanted to share with you a few charts illustrating the reversals, and as always, click on a chart to see a much larger version.(more…)
Slope of Hope Blog Posts
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A quartet of short ideas for you:(more…)
It’s pretty evident where the battle line is drawn right now: 2947 on the ES. We had a little reversal pattern above this line, and then after tumbling away, the market stalled out just below this level (magenta tint). And then, during this morning, as we were selling off, the market slammed the brakes on hard when it got to this level and is bouncing up. We continue to await the Fed at 11:00 a.m. PST!
You just know there is no one left who is going to believe any bearish equity story when ZeroHedge is resorting to stuff like this on their front page:(more…)