You’re supposed to read that post title like BOING! You know, the sound. Anyway, here’s a daily chart of Boeing (symbol BA) since late October. Seems organic and natural, right? Yeah, right!
Boe-ing!
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.
BBB King
I’ve been having way too much fun with Chart Lab lately. Here is the latest example, with the easy to remember symbol FR:BAMLC0A4CBBBEY-FR:DGS3 What this represents is the spread between the interest for BBB corporate bonds and 3-month t-bill yields. In other words, when it is low, risk is perceived as low, and when it’s high, risk is perceived as high.
Rates and Metals
From our friends at Kimble Charting:
Ursa Minor
We Aren’t Really Talking About Rate Cuts Right Now (by AlgoTradeAlert)
NY Fed President Williams stated on CNBC, “We aren’t really talking about rate cuts right now.” This seemed to conflict with Jerome Powell’s post-meeting press conference, causing a dip in the futures markets and a rise in the dollar. However, further scrutiny revealed Williams had marked several expected rate cuts in his ‘dot plots’ for next year, leading traders to dismiss his assertion as not serious.
Everyone is confused about what the FOMC will do next year. Expect the FOMC to backtrack on cutting rates, claiming data dependency. Lagging data makes it extremely difficult to figure out. Six rate cuts are currently priced into the stock market. If the FOMC doesn’t cut rates, it will reflect in the charts and our algorithms. This will be one of the most crucial charts in 2024. We’re adding the TLT ETF to our premium member chart list. This will help us identify if the FOMC will cut rates or not. (TLT UP) Yields will go down.
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