Slope of Hope Blog Posts

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Index Revulsion

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It’ll be interesting to see on Sunday afternoon, when the Globex opens, what the news about tapering plans will bring. I guess, deep down, everyone with a triple-digit IQ recognizes that any tapering will be swiftly and violently aborted if the market slips even 5% from lifetime highs. But, hey, we got get a little selling for a few days, so it could be fun!

I must say, the big indexes are looking dreadfully weary, particularly when you examine them with their overbought/oversold indicators breaking down. Here’s the Dow Jones Composite.

slopechart COMP