US Bonds have been breaking down for about a year now, and although there will be small bounces along the way, the pattern is fairly clear. The next meaningful resistance is the price gap on TLT at 155.66:
Bonds Bearing Down
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.
Will Game Stop?
As a follow up to yesterday’s GameStop post, there was another big spike this morning. The blue trendline I’ve drawn shows the long-term resistance spanning 2007, 2013, and today. My view is that the short squeeze is over, and GME will just complete another lower high, remaining beneath the long-term blue line.
Locking In Nano Dimension Gains
The M2 Channel
My fondness for ratio charts is unbounded. Allow me to share three of them with you that I believe illustrate how prone the market is right now to a sell-off.
The first is the Dow Jones Composite divided by the M2 money supply. The nature of the current bull market is different than the prior two. In those – – during what were relatively normal times- – – the market ascended, carved out a topping pattern, and then plunged.
Since the Fed has taken their manipulation up to “11”, the market doesn’t have the opportunity to create a rounded top. It does, however, yield a fairly clean channel, and we are mushed at the top of that channel right now.
Game Stop-Loss
One of the meme-iest of all the meme stocks is GameStop (symbol GME) which had been battered down to 2.57 on April 3rd of last year and closed today at 31.49, a gain of about 1100%. Not bad for a retail store that sells games. You can plainly see the jaw-dropping short squeeze that took place today on this intraday chart, which pushed prices over 57% higher.
