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.
Megatrends
Allow me to share with you the Manufacturers’ Value of Shipments from our friends at the Federal Reserve. This data lags badly, so the chart below is updated through July. The update for August will be tacked on early in October. Still, the data set goes back a full third of a century, so it’s a fascinating cycle which even a 1st grader could see moves in broad sweeps up and down.
Absolutely, Positively
As the sanity and calm of the evening hours are upon us, we can reflect on our economic data instead of the cocaine-induced lunacy of Thursday’s session. I present to you FedEx (FDX) which is plunging to the same price it was in……………December 2020. Yep, almost four years of revenue and profits rendered moot.
In The Big Inflection Point on Crypto
A week ago I led with a chart looking at the strong correlation between SPX and BTCUSD (Bitcoin). I was talking about the big inflection point likely coming up on SPX, and SPX is in that inflection point now, at a stage where it could very much break either way, though the Fed gave bulls a big boost yesterday. Whichever way SPX breaks here, Crypto will likely follow to a significant degree.
On the Bitcoin daily chart, the daily middle band was backtested and held as support. BTCUSD has also broken back over the 50dma, and is close to a test of the 200dma currently at 63985. Bitcoin is looking a bit stretched at the moment, over the daily upper band currently at 62775, but still well short of the daily 3sd upper band currently at 65078.
(more…)Tesla Gap Nearly Sealed
Just last month, Tesla was a $182 stock. Since then, it has resolutely climbed. Along the way, I’ve been emphasizing the price target at just above $245, where that major price gap is.
I’ve had a vested interest in this, since one of my kids had a bunch of options (which expire TODAY!) whose exit I was seeking to optimize. We are just about there, so I think we’re going to have a pitch-perfect gap seal very soon.
