Well, folks, the market really needs to cut this nonsense out, or my bearish ways or going to get vanquished. We are mashed right up against a major Fibonacci resistance level on the SPY, following the mega-rally on Friday.
![](https://slopeofhope.com/wp-content/uploads/2023/11/pxfib-640x343.png)
And on the S&P 500 cash index, we have reached a descending trendline of resistance.
![](https://slopeofhope.com/wp-content/uploads/2023/11/slopechart_SPX-2-640x339.jpg)
Between myself and our lovely outside contributors, the past week held together pretty well on Slope. I’m going to be getting back to my home late Saturday morning, so I should be able to crank out some posts shortly thereafter.