The bloom certainly seems to be off the Treasury Bond rose as of late.
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.
Quiet!
It’s only been dead two weeks, but I’m already nostalgic for the Trade War. Oh, did I say dead? I simply meant paused. You know as well as I do that after we once again go through the charade in a few weeks, we’ll be right back to where we were, only worse. I don’t know why they put us through this. Keeping up appearances, I guess.
Let’s look at the three main events since then:
Safe Havens Soften
As people rush into equities — since they’re such a good value and all – – they are fleeing what has been the realm of safe havens for weeks on end, such as bonds:
Relatively Speaking
As a reminder, SlopeCharts has the ability to present charts based on combining symbols, modified with any mathematical mutations you might like. Below I am showing three simple ratio charts, each of which is pretty interesting.
The first is IWM/SPY, which nicely shows how, over the course of many years, small caps have been losing the battle against the S&P 500. If this were an individual stock, it would look very shortable, because that is one huge inverted saucer.
Mess with Texas
In this totally fake, propped-up, fraudulent equity market of the past decade, one part is such horrible condition that even the pinheads in D.C. can’t prop it up is the oil and gas exploration sector. The ETF for it, XOP, is actually at the lows of the financial crisis. How many things can you say that about? I’d say it’s a whole integer that rhymes with the word “hero”. Prepare for a break to lifetime lows in the near future.
More Downside Ahead for SMH
The VanEck Vectors Semiconductor ETF (SMH) has a fascinating big-picture chart set-up that is loaded with technical information, most of which argues for more downside directly ahead.
Metals Continue Apace
I doubt there’s a single symbol I’ve mentioned more this year than the metals and mining fund XME. The regularity and clarity of these rounded tops is irresistible.
