Once again, after a tiny, tiny dip in the market, everybody’s talking about a push higher. S&P 3000 is offered as a foregone conclusion. Indeed, even to this poor old bear, I can see an argument to be made for a bounce at current levels:
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.
The 42 That Matters
The number “42” had resonance in the financial world a month ago when Elon “I think I’ll ruin one of the world’s greatest reputations” Musk declared that Tesla was going private at $420. Multiple lawsuits and one SEC investigation later, such chatter has of course vanished. Four Two Zero is moot.
For me, the far more important figure is ONE Four Two. Specifically, the support level of bonds (How’s that for a segue?) Break it, and the world is our oyster.
Bond Breakdown
There are two things I’d like you to check out:
- The video tutorials page. It’s super-gorgeous now, and the videos are new. I am very proud of it, and I am positive you will learn a lot about SlopeCharts. For those not using my chart platform for some reason, I encourage you to give it a try.
- The new guide to Memberships, which explains the various levels of membership and the features therein. I promise to only mention this page fifty thousand additional times during the year.
As for the markets, there obviously isn’t a heck of a lot to say on a holiday, but there was some GLOBEX trading to watch. I am fixated on bonds, as is always the case, and there’s an important prospective breakdown looming at the red line shown below. The big “event” this week is the jobs report before the market opens on Friday, so perhaps by the end of the week we will have busted this line.
Bond Repellent
Surprise, surprise. Everything is green this morning. New lifetime high on S&P 500. New lifetime high on NASDAQ. Every day except weekends, guaranteed.
The one exception is bonds. Here is what has been going on this year……..
Can Bonds Relax?
The only red on my screen this morning (and it’s down only the tiniest bit) is bonds. This is a market I watch terribly closely, because as I’ve said through most of 2018, the core shift I’m looking for is an increase in interest rates and an accompanying decrease in real estate valuations. Through the course of the year, the now-broken trendline has done an effective job of repelling prices (arrows). At the moment, my fondest hope is that prices don’t either bother getting back to the trendline and instead turn away from that green tinted area.
