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-time Sloper LZ wrote me again tonight with some interesting charts, prompted by the fact that today’s volume the SPY was literally the lowest of the entire year. (And it isn’t because it’s a holiday – – not even one as awesome as Juneteenth!) Here we can see that, over the course of this bear market, super-low volume has tended to be linked to market tops, or at least extremely close to market tops:
WHOA! Check this out! For the past FOURTEEN MONTHS, the $VIX has reversed itself every single month with only a single exception! That’s extraordinary, I think.
Since the market bottomed on June 16th, the /ES has gone up hundreds of points (well over 300) and the Dow Industrials is up thousands. There has been an enormous change in sentiment, with the consensus being that the brief bear market (if you want to call it that) experienced during a tiny portion of this year was all the suffering that was required to clear out all the sins of the past quarter century.
Besides the fact that Zerohedge has more bullish articles every week than even the likes of Yahoo Finance, even Elliott Wave has thrown in the proverbial towel, declaring their “alternate scenario‘ (AKA the bear market ain’t happening) is in play. It wasn’t that long ago that they were stone-cold certain that we’d be plunging non-stop. This afternoon, hat in hand, they meekly sent out an ‘Interim Bulletin” (never a good sign) that raised the white flag. Their mojo is gone. Totally. Elliott Wave has SURRENDERED.
For your consideration…………
Good morning, beloved Slopers. And I say good morning since the /ES isn’t up 300 points right now. But, honestly, just think of how much has changed in a single week’s time. Last week, at precisely the moment I am typing these words, the market was in a total free-fall thanks for the white-hot inflation numbers that that had just tumbled out. Since that time, evidently, ALL the problems that had caused market weakness all year long have been totally solved, and Mr. Jason Goepfert (and, come on, let’s face it, Knight is such a better name) declares the following for the world of Wall Street Shills and Permabulls:
