On an intraday basis, equities reached multi-month highs on Thursday. All I can say is: bonds aren’t buying it. Just look at what’s going on with the high-yield world. Bearish engulfing patterns everywhere.(more…)
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.
I have been a long time user of analogs. I like looking to history to see how it echoes back against us, again and again. I have studied the crash of 1929 and the Great Depression at length. As a result, when I see patterns in today’s market, they sometimes remind me of patterns that I have seen before in markets of the past.
I had that experience again yesterday and today with the chart below. I recognized that SPY this year has been acting a lot like INDU acted in 1929, but on a slightly different timeframe. The 1929 chart shows roughly six weeks of trading action. The SPY chart shows all of 2022 thus far. History books can tell you what happened next.(more…)
Those who know me as Mr. Fuddy-Duddy may be surprised that I’m going to be rumbling around in an American-made truck for a couple of weeks in the wilds of North Carolina. The only thing I’ll be missing is a hound dog, but maybe I’ll just have to borrow one. I mention that not just because of the crucial import of Bear Force One (VASTLY more influential than the dumb old CPI and PPI), but also to state that electric truck maker Rivian is announcing earnings this afternoon.