The not-at-all-surprising announcement came that interest rates would remain untouched, and here are the initial reactions (note that, as of this composition, the press conference has not begun).
Let the Waves Warsh Over You
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.
Crumbling Adobe
I guess this is the world’s revenge about overpriced subscriptions that are impossible to cancel: Adobe (ADBE) is trading now where it was in the year 2018, a full eight years ago, and it would need to go up 250% just to claw its way back to its peak price.
TA on the HUI Gold Bugs
The HUI Gold Bugs index is well along in its correction
In the precious metals, like other markets, I am usually focused on market internals, especially by way of ratio charts. I am into other aspects, especially about the macro environment in which a given sector or market exists. Indeed, the ratio and ‘internals’ charting helps define the top-down macro.
Preamble aside, I began as a regular chart guy. I learned about bull and bear flags, volume considerations, Heads & Shoulders, trend analysis (long ago did I learn that trend “lines” are not as important as TAs like to believe; it’s other trend measures like moving average trends and higher/lower highs/lows that matter), overbought/sold, support/resistance and so on.
(more…)Uh-Oh
Rinse. Warsh. Repeat.
If you want a sense as to how quiet it is this morning, look no farther than SpaceX. After blasting 50% higher during its first two days of existence, it is effectively unchanged right now. Meandering aimlessly, all night long.
It seems, I suppose, everyone is waiting for the Fed announcement and the debutante ball of Kevin Warsh. I’m not sure why anyone cares about this guy announcing no change in rates versus Powell announcing the same thing, but evidently, it’s quite the BFD, so everyone is sitting on their hands.
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