The counter-trend rally I was hoping for is clicking right along, and I’d say we’re most of the way there. Not done, but…………getting there. Here is the /ES, up about 140 points since Friday:
Getting There
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.
GoPro Needs to be Euthanized
GPRO is truly absurd. Who even trades this kind of thing? It has done nothing but go down for years, and although I’m sure the insiders dumped all their holders at the peak, the hapless retail saps need to face up to the fact that this company is as hot as a manufacturer of 8-track tapes. Just give up.
The Wanderer
This is actually a fairly dull week, with no consequential economic data, no particularly interesting earnings, and lately not even any mayhem geopolitically to drive prices. Thus, we’re just kind of ambling around, and the /ES is up a dull one-fifth of a single percentage point before the opening bell.
Move Over America!
China’s Luxury Goods Market Is Making A Comeback
While nearly 78 percent of Americans are living paycheck to paycheck, an increase of 6 percent between 2022 and 2023 according to a recent survey, Chinese consumers are showing up and dishing out luxury goods and services as the market is set for a strong recovery in the year ahead.
In the latest China Luxury Report by Bain & Company, analysts predict that China’s luxury goods market experienced a comfortable 12% year-on-year increase in 2023. The rebound has seen China’s domestic luxury goods market recover from previous declines during the pandemic years, however, is still slightly below the record level of 2021.
(more…)Gaining Momentum
It’s been a long, long time since I’ve loved what the stock market was doing, but with patterns failing, trendlines cracking, and horizontals getting toasted, it’s finally fun once more. The indexes are quite similar with respect to their failures. We’ve got the NASDAQ Composite:
