In my last post a week ago I was talking about the prospects on SPX for testing the weekly middle band, currently at 4312, on this rally, with particular reference to the very historically bullish two first days of June, which were the last two days. Unfortunately for the bulls, these were both wasted in a sideways consolidation, so reaching that target now looks more doubtful, and the odds of a break down before that target is reached have increased.
(more…)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.
Linear Relationships
Good morning, everyone. I am typing this post about 15 minutes after the release of the jobs report. I state that right out front since the markets tend to be especially volatile on days like this, please there are absolutely meaningless events – – such as the opening bell and the close of the European session – – which have outsized effects on the markets for reasons I simply cannot fathom. Having said, that, keep in mind these charts are merely a snapshot in time.
The immediate effect of the jobs report was that bonds took an instant tumble.
Why SPACs Are Dead
A couple of years ago, SPACs were all the rage. It was a great way for companies that had no business ever going public to…………go public. Well, even in this insanely over-supported market with trillions of Fed Bux behind it, you can plainly see how, from a variety of business sectors and a witch’s brew of business models, the result has been pretty much the same. The entire SPAC revolution will be an interesting footnote in the long-term history of financial innovations that have come and gone.
Welcome, Worst Month
Looming Ceilings
Ever since last week, the market has been slicing the heads off bears left and right, with the Dow up thousands of points and the ES up about three hundred .It’s been unrelenting.
