Slowly, slowly, the wheel turns……….and I’m very pleased to see bonds still in tip-top shape. I’ve removed the price bars (shortcut for SlopeCharts users: Ctrl-P) so you can see the drawn objects and moving averages plainly and simply.
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.
Long-Awaited Break……Or Is It? (by Moneymiser21)
The alternative rock band Green Day once sang “Wake me up when September ends.” Now that September trading is over, let’s see where THE most important chart in the world stands.
The Idealized Path
I am admittedly talking my book here (or, more specifically, my lack of book, since I am out of my XLU puts and want to get in at a better price), but I’ve speculated below as to some idealized paths for the utility index and bonds (TLT) for the balance of the week. Tomorrow, Wednesday, is “Fed Day”, and that’s bound to thrown some shock waves around.
Latest Support Failure in Bonds
My bond obsession continues, and with good reason. We’ve just had our latest breach. And remember, next week is a big FOMC announcement, so that should shake things up. The important fact is that we’re now beneath a support level that has been in place for months.
Pilgrim’s Progress
Well, it was another one of those weekends where we were treated to all manner of market scares (“Trump is going to announce tariffs on $200 billion more of goods!”………..”China is going to walk away from trade talks!”………..”Oh noes!”) and yet, here we are just before the open on Monday morning, and the ES has collapsed all of 1/10th of a single percentage point. I can’t say I’m surprised.
One market that continues to behave As God Intended ™ is the bonds, whose pattern I’ve been following all year long. The head and shoulders pattern on it is glorious, and it seems to me that interest rates are simply going to continue stomping higher (which will do wonders for a planet buried in countless trillions of dollars in debt). The recent failure of this pattern (magenta tint) is, to my mind, the most significant market event to take place in years (the crypto revolution notwithstanding which, let’s face it, has enriched all of our lives beyond measure).
