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 chart below is simple and, I think, important. At the top is the candlestick chart of the Dow Jones Composite, which has been, thanks to that disgusting pig Powell, banging out higher highs. Beneath it is Slope’s own advance/decline summation index, showing how on the exact same days, the market has been making lower highs. In other words – – bad breadth, and you ain’t gonna cure it with a breath mint.
Another little thought experiment – – and I welcome corrections or new insights on this.
The Fed has made it clear they want inflation. They want it at 2% or above, and they’re willing to let it go decently above that level for a while before they consider raising rates. They’ve said so repeatedly.
At the same time, trillions and trillions of new dollars are floating around out there. Adjunct to this, the world has never been so in debt. It hasn’t stung too much, because interest rates are so historically low that the burden of interest rate expense today isn’t much different in nominal terms than it was twenty years ago, even though we are dramatically deeper in debt. So the government is a bit spoiled by near-zero rates.
Well, I didn’t expect this. As part of a post I put together for this morning, I made up some fake Presidential tweets. The spooky thing is, if you blend them with a couple of tweets which actually came out this morning, it’s pretty hard to tell the difference, except for the font and timestamp.
Everyone enjoying this thrilling market as much as I am? Yeah, I thought so.
My main focus is the small caps, by way of the /RTY futures. As you can see here, it is absolutely devoid of direction, jerked hither and thither by nothing more than the mewing of politicians on either side about how much they’re going to stimulate the voters. It’s pathetic.
I always find it strange when a company that makes one thing can actually be gargantuan. Here’s one that I stumbled upon this morning: WD-40. It is at a lifetime high, and through the decades it has basically done nothing but go up.
