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.
2022 in a Single Chart
Seismic Sentiment Shift
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.
Who to Believe?
Ever since the market stopped plunging a month ago, we’ve been engaged in a violent tug-of-war between the bulls and the bears in a massive 300-pound range on the /ES. We’re near the top of that range now.
Brou Ha………….Ha.
Pffffft. What a disappointing week. We had a MOUNTAIN of killer economic reports, the important ones of which came in massively in the favor of the bears (and now we head into a data desert):
