My annoyance with meaningless early-day ramps is starting to crank up my snarkiness.(more…)
Slope of Hope Blog Posts
This is the heart and soul of the web site. Here we have literally tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. You can also click on any category icon to see posts tagged with that particular category.
Lord, this market is annoying……..
Indeed, our friends over at ZH listed at just a partial list of what’s been driving the market up and down for weeks now:(more…)
Well, the day is going precisely, exactly, and totally like I hoped (and wrote about before the sun was up). I hope I was able to provide some resolve to a few of you.
Let’s look at the key elements of the Dow Composite:(more…)
Well, the bulls finally have something to grin about for a change:(more…)
What a strange week so far, and we’re only talking about two trading days. Monday was the bullgasm, with Santa Claus Rally on everyone’s lips. Tuesday was “I am Tariff Man” day, when all the G20 gains were set on fire. As for the question “what next?” my main focus is on the key price levels I’ve spotted below for these respective indexes. Most of them are gap-related, but not all of them.
The Dow Jones Composite:
The markets and the government are shut down today to commemorate the death of Bush 41. The GLOBEX markets remained open overnight and recovered a small fraction of Tuesday’s losses. Here’s the NQ:
As much fun as Tuesday was, and as cool as it would be for the market to go down every single day without interruption, we have to be cognizant of important areas of support. I’d like to point out the principal supporting trendline for the ES dating back all the way to the 2009 bottom.
There’s a town here in the Bay Area you’ve probably heard of called Oakland. You’ve probably also heard the famous phrase about it uttered by Gertrude Stein: “There’s no there there.” I’m reminded of this quote because of the “truce” announced. My instant reaction was that it was a nothing-burger, which was met with screams and cries of distress that it was, in fact, An Awesome Amazing Deal. But it seems it’s starting to dawn on the rest of the planet that maybe this kicking-the-can-down-the-road exercise does, in fact, constitute “no there there”.
For a while last night, it truly seemed to be the case, although I’m sorry to report most of the red has been washed away. Interestingly, the gap between Friday (pre-truce) and Sunday (post-truce) was almost perfectly sealed on the NQ.