TWELVE DAYS IN A ROW of green bars on the S&P 500 fund. Can you imagine – -in your wildest dreams?? — what kind of screeching and shrieking would be happening if all twelve of these bars were red instead of green?
A Dozen Days
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.
Three Taps and A Punch
After my post on Friday, SPX spiked up into the trendline I had posted on the SPX hourly chart, and that was the very nice rising wedge resistance trendline from the March 2020 low. That high was retested this morning, the level was respected and weak hourly RSI 14 and RSI 5 sell signals have now fixed.
SPX 60min 15Mo chart:
Our Daily Bread
As anyone with functional eyeballs can confirm, the market schtick lately has been as simple as can be: an overnight drop and, soon after the cash market opens, a ramp out of the clear blue sky based on absolutely nothing whatsoever. Much of the day is spent grinding around a price pin, and then, blammo, the day ends with a final burst of buying.
Tesla Wannabes
Let’s just agree that the questionable, scummy, wanting-to-ride-Elon’s-coattails car makers are getting destroyed – – and this is in the midst of the most gigantic fraudulent bull market in history. In a normal market, not a single one of these would have ever been traded, since they would even exist. But in this mega-Ponzi-scheme, they had their time:
Purge the Emerge
My morning got pretty much shot by a number of tasks, but I’m back in the saddle again. Below I offer three views of the emerging markets fund (symbol EEM) which continues to inch its way toward the critical failure level of $51.52:
