If you want to see how chart-compliant the market is being, look no further than the Russell 2000 futures (symbol /RTY). The market was plunging, but BANG, the moment it got to the supporting horizontal line, it went zipping higher. As I’m typing this, it’s fifteen minutes before the speech, so God only knows what this will look like once Powell’s text is released.(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.
Good grief! Here’s what we’ve seen over twenty-four hours, reading from left to right:
- Red arrow: Burn off yesterday afternoon for no particular reason;
- Blue arrow: Slow climb-back based on China optimism;
- Red arrow: Explosive mover higher from PPI report;
- Blue arrow: Slow burn-of for no particular reason;
- Red arrow: Collapse due to Polish missile strikes;
- Blue arrow: The missiles don’t mean crap recovery rally
And the day isn’t even over yet!
The bears endured another day of emotional damage. The huge move up in the markets on Thursday, November 10, 2022, signals something we should all recognize about current market psychology. That “something” should be heartening for any bears left standing. What is that something? Fear. Now, understand that there are different types of fear when we are talking about market psychology. The explosive move to the upside of the markets to “less bad” CPI numbers indicates fear of missing out (FOMO). This is a useful bit of knowledge. It has been said that “wisdom is knowledge, rightly applied” so let’s see what we can do to make a difference next time.(more…)
Today sucks. I won’t pretend otherwise. I was positioned for a fall, and instead we’re looking at a market in which the Dow is up QUADRUPLE DIGITS as I am typing these words. It wasn’t catastrophic for me, but I’ll get to that later. What I wanted to point out is this image of the Dow 30 fund:(more…)
What a nutty day. I thought it would be a total snooze-fest, thanks to the election, but crypto changed all that. Crypto crashed, dragging equities down into the red (but all too briefly), then almost all those losses in equities were recovered, only to see it fall about halfway again. A total madhouse.(more…)