Let’s get back to the basics.
The chart below is a bull market. It happens to be the S&P from the year 1995, which was an incredibly steady, smooth, ascending-all-the-time market.
My Problem with Hamburger
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.
Placid Powell Pleasures the Bulls
Exceptional Push-Back
Maybe it’s true. Maybe the bear market lasted all of eight months (November 2021-June 2022) and the bulls have been back in control all this time. It sure feels that way. The earnings wipeouts and jobs report were precisely what the bears needed, and those aids have been laid waste. AAPL, which reported its first revenue and earnings miss in seven years, is ROARING higher.
When Does This End?
On a scale of 1 to 10, my trading confidence is hovering at about a 1.1 at the moment. Starting on January 6th (and, in a broader sense, last October 13th), this market has been absolutely sadistic to equity bears. So when does it all end? The monster earnings after Thursday’s close? The jobs report Friday morning?
I dunno. What I do feel confident of, however, is that the one screaming signal I’m waiting for is for TSLA to have the digit “2” at the start of its stock price. Assuming that happens, which will represent a 100% price increase in a period just weeks (!!!!!!!!!!) I will be vastly more comfortable deploying my cash.
Bullish Victories
I’ve had better days in my life. And weeks. And years (OK, 2023 is still young, but all the same).
Anyway, as usual, the initial reaction to the FOMC (a sudden drop) was exactly the opposite of the true outcome. More importantly, the bulls grabbed some MAJOR victories in chart-land today: Here we have the QQQ blasting away from its broken descending trendline:
