Thursday afternoon means the latest Federal Reserve data tumbles out. The calculated target for the S&P is up a little, but still over a hundred points beneath present price levels.
Not Much of a Change
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.
Above Average
Only days ago, the financial media was ablaze with “analysts” scurrying around and celebrating the fact that the S&P 500 has, at long last, crossed ABOVE the 200-day moving average. Since 9,999 out of 10,000 humans are permabulls, this makes sense, because one wants to pander to their audience. It seemed odd to me, since a market pushing to such an extreme wouldn’t seem like a great time to enter positions. The past few days seem to bear me out (so to speak) on this point.
Get Sum!
Here’s an interesting chart – it shows (black line) the cumulative advance/decline line along with the standard trio of exponential moving averages. Yet another piece of evidence that this market is laughably overbought.
Those Wacky Teens
A moment of silence, please, for the VIX, which has, for the first time since mid-August, sunk down into the teens. Now if you’ll excuse me, I’m going to go pray to any available god that Friday morning’s jobs report doesn’t offer a final death-blow to the bears, because frankly at this point, we REALLY need a down day, or else we might as well throw our arms up at the rest of the year.
Lifelong VIX
Here I am on a Sunday night, testing out and tweaking a new feature. In doing so, I am resorting to my default behavior. You know how some people are said to have a Resting Bitch Face? Well, I’m kind of like that, except in my behavior. I have, umm, a Resting Chart Face, I suppose, because when I have nothing else to do, I’ll always drift back to charting. Thus, I give you this:
