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.

Brutal

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There’s just no other word for it. Today, for the bears, was absolutely brutal.

You see, over the weekend, I was thinking to myself how crucial it was that the market begin to weaken. That transpired beautifully on Monday. Tuesday was immaterial: nothing of note happened.

Today, however, blew a shotgun blast right through bearish hopes. In fact, the fun part of this bear market ceased abruptly on June 16th. Since then, it’s been a total hellscape. We seemed to be getting back into business in October, but with the October 13th CPI report, that was all over. It’s been a nightmare ever since.

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Sputter

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Let’s face it: Tuesday was a throwaway day. The Dow Jones Industrials climbed 0.0091% Hey, if I’m going to pick a day to have some serious downtime, I didn’t do too badly, did I? Anyway, Wednesday will be, for better or worse, vastly more dynamic, so here are a few key charts with some remarks beneath each.

Total failure to launch. Hence the post title. And the crummy results from the likes of CRWD and NTAP won’t help.
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A Vigorous Defense

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It’s quite clear that the “Bring Back The Year 2020!!!” crowd is in fine form today, as it desperately tries to keep bidding prices above the trendline. So far, they have succeeded. Here’s the /ES minute bar action:

I fear this could be a brutal, grueling, boring tug-of-war until something major happens, like Powell’s speech on Wednesday. It’s a good day for me so far, but what a grind!