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.

Fiscal Flop

By -

Today was an important step forward in the market’s breakdown. When the biggest banks, which have unlimited access to however many trillions of dollars they demand from the US Government, can’t manage to blow earnings expectations out of the water, you know something is wrong. From a charting perspective, the financial sector leaped to the other side of its breakout (note arrows), thus completing a failed bullish breakout.

(more…)

The Afternoon Key

By -

I’m having a good day so far. Of course, every person reading this is at the mercy of Pencil Dick (AKA Jerome Hayden Powell) and his evil band of pranksters that are darkening the innards of the Eccles Building. I would suggest to you that the finance sector fund, symbol XLF, is absolutely key this afternoon.

The post-Thanksgiving gap and the broken trendline are allies of the bears. The ally of the bulls, damn them all, is that cluster of activity I’ve emphasized below. I believe it would be nigh impossible to break through that, at least today, but if we can at least start to push back into that zone, that will be a very encouraging sign for the ursine crowd. There is no sector more represented in my 30 positions than finance, so………...fingers crossed.

I’m probably going to “go dark”, perhaps even until the close, given the mayhem that Pencil Dick is going to thrust upon us.