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.

The Latest Lovely Lines

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Good morning, everyone, from pitch-black Palo Alto. It’s been quite the week, and I’ve got to say two adjacent things right at the top: (a) the market has been amazingly chart-friendly (b) shame on me for missing some of that chart-friendliness in real time. (Although I’ll add (c) NOT shame on me for actually anticipating some of this stuff in advance, even though I myself ignored it!)

Look at what’s going on with the /ES futures. Tuesday, of course, was our amazing CPI tumble. Wednesday and the first portion of Thursday were the “grinding away” period, clinging tightly to the trendline. Yesterday (and here’s the part I’m upset with myself about) the market fell hard, went roaring higher, and did a PERFECT touch of the aforementioned “clinging” trendline (blue arrow) at which time it did a miniature version of the Tuesday plunge. Since then, we’ve been leaking lower.

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I Had No Idea……

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Truly, I have lost the forest for the trees.

Each day, I am examining the market so closely, I sincerely have lost sight as to just how vast the damage has been to equities. A perfect example is Intel. It peaked in April of last year. Now it’s down about 60%. This isn’t some fringe biotech startup. This is the world’s largest semiconductor company. I honestly had no clue the wipeout was this gargantuan for a major player. As this bear market makes it way from sector to sector, the trillions lost are going to be absolutely historic.