Yesterday was a trend day and the odds favor a day or two of retracement or consolidation afterwards. SPX also closed a clear ten points below the daily lower bollinger band, and while it is easier for SPX to trade well below the lower band in a strong downtrend than it is for it to trade well above the upper band in an uptrend, it still has some magnetic pull. We may well retrace or consolidate today. SPX daily chart: (more…)
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.
Fund Fury Finally F_cks Fed Fools
The destruction of Ben Bernanke’s reputation is something I have yearned for ever since I came to understand the man. At long last, the one thing that will smear his ill-deserved good name is surging: interest rates. He has put the nation $17 trillion in debt, and soaring interest costs will bring financial ruin to the landscape and guarantee Bernanke’s place in the annals (or perhaps anals) of historical ill-repute. Behold, I make all things screw. (more…)
Why the Surge in Yield?
The ProShares UltraShort 20+ Year Treasury (TBT) has taken off this morning despite disappointing results from Wal-Mart Stores Inc. (WMT) and Cisco (CSCO). Granted, the jobless claims figures continue to argue in favor a strengthening economy, but definitely not enough (IMHO) to warrant a surge in the TBTs (in yield). (more…)
Resolving Downwards
SPX closed well below the middle bollinger band yesterday and ES has fallen further overnight. The SPX daily lower bollinger band is in the 1679 area, and that is some support, though it isn’t as strong as the resistance found at the upper band during uptrends. SPX daily chart: (more…)
AAPL Comes Through
We seem to have settled into a pattern of interesting mornings and dull afternoons that close near a daily bollinger band. Yesterday’s close was at the daily middle bollinger band (or 20 DMA) for the third straight day. The lower bollinger band is now close below at 1678, and the upper band not far above at 1708. With all the action below the middle bollinger band this week I am cautiously expecting to see the lower band tested next. SPX daily chart: (more…)
