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.
Just Pull the Plug
These Tesla wanna-bes keep circling the drain, even in this bail-everyone-out environment we’re cursed to live within. I’m not sure why they have zero traction, but clearly the whole sector is in grave trouble. I suspect many of these would never have gone public if the whole “Build Back Better” fiasco had never been proposed in the first place.
Gripping the Oscar
We humans like the see bad guys lose. Like when the Americans overrun the Nazis about 25 minutes into Saving Private Ryan. Or when Saddam is being led to his noose. Or when Osama bin Laden is shot dead. Or when Janet Yellen and Jerome Powell’s plans go horribly awry. They’re all evil, and it’s good to see them meet their comeuppance.
The last of those examples took place today, and I couldn’t be happier. There is one more piece of this jigsaw puzzle, and that is the CPI tomorrow morning. I’ll get to that in a bit. For the moment, I shall simply applaud today’s market action, whose peak on the SPY almost perfectly tagged the underbelly of the broken trendline. In case you missed it the first dozen times, my bold call right now is for the double Fibonacci support to fail the next time it is challenged. If this transpires, we can all crown me the King of Charts for the rest of time. We shall see. My head is as yet unadorned.(more…)
Told-Ya-So of the Year
How many times did I mention this target for the S&P 500 index? Five thousand times? Seven thousand? More? In any case……..I think we can all agreed…………NAILED IT: Like OH MY GOD nailed it:
My next Nostradamus-level prediction? Simple: the next time we challenge this line, it isn’t going to hold anymore. The spring on this swinging door is worn out, folks. This was its last meaningful stand.
Broker/Dealer Wedge Wipeout
Not too many folks followed the BROKER/DEALER INDEX (symbol $XBD in SlopeCharts) but it’s beautifully patterned these days.