I was talking yesterday morning about the very strong rally setup that might develop if USD futures (DX) broke rising support and we've seen that happen overnight. I've talked before about the relationship between USD and equities on moves, and commented that when they are in short-term sync, with equities falling and USD rising strongly, or vice-versa, then that's when we tend to see the fastest moves. That may well be what we are looking happening this week.
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.
Return-Free Risk (by Springheel Jack)
I was amused this weekend to read again the wonderful phrase 'return-free risk' applied to sovereign bonds in Europe, which is a better description for sovereign bonds generally nowadays than the 'risk-free return' that used to describe these in days when interest rates were higher and government debts were lower.
Thanksgiving Thoughts (by Springheel Jack)
This will probably be my last post this week, unless Friday morning looks particularly interesting, as the markets are closed in the US and only open briefly on Friday. The markets are open elsewhere of course, which is worth bearing in mind on the forex markets particularly, and obviously everything's still open here in Britain, where for some reason the successful secession of the US from the British Empire has yet to be given the status of a national holiday.
Thanksgiving Bounce? (by Springheel Jack)
I was expecting ES to hit 1185 yesterday, which it did, and I was expecting that to hold, which it didn't. 1180 held though and on SPX that was an almost perfect 50% retrace of the rally from the October lows. It might hold and deliver a bounce into the Thanksgiving holiday. ES is at 1193 at the time of writing and there's a promising looking falling wedge on SPX that might deliver a bounce on a break up:
