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.

Gold/Silver Ratio, SPX, Yield Curve and a Story to Tell

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I most often use linear scale charts for stocks, markets and indicators for their more absolute views. But in the case below we conjure up a long-term log scale chart showing the Gold/Silver Ratio (GSR) and the S&P 500 (SPX), as it works better in providing a percentage-based relationship between an indicator of market liquidity and inflation when declining and lack of liquidity, deflation or… it has to be said, Goldilocks, when rising.

Now, when viewing the most recent Goldilocks phase, where SPX has gone in positive correlation with the GSR we will have to suspend disbelief that this is anything normal or natural. It was created by will of man as first the Bernanke Fed conjured a balls out inflation out of 2008’s deflationary destruction and then as a crowning achievement, concocted Operation Twist in order to manipulate the bond market into flashing this signal… ‘Nope, no inflation here!’

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SPX Outperforming Gold & Oil

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Further to my post of January 5, the following provides an update on price action as of today’s (Thursday’s) close.

The following monthly chart shows the SPX, GOLD and OIL in comparison format, as well as their respective high, low and today’s closing price for January, so far.

The instrument currently facing the “path of least resistance” is the SPX. It shot through prior near-term resistance (now support) of 3233 and continues to rally.

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Metallic Amigos Ride Into 2020

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At the dawn of what is going to be a hyper-interesting year in the markets and in society, let’s see what the lovable and goofy Amigos have to say. As usual, we’ll use gold and silver daily charts and a copper daily along with a longer-term view with a weekly chart for the Economic Ph.D. metal.

The charts are the metals futures (click ’em for a larger, clear view), live when I clipped them a little while ago. The caveat with the metals as with macro markets in general is that it is still Santa silly season and so the signals are suspect to whatever degree you put weight on that.

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