Daily Archives: June 13, 2017

Share and Share Alike

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Yesterday, I let my Slope PLUS subscribers know about a feature in SlopeCharts that I built exclusively for them. Specifically, the ability to publish and subscribe to the watch lists of other users (and the charts therein, including the drawn objects for each chart). You can learn all about it on this page.

Here are a few relevant screen shots below. if you’ve been on the fence about subscribing to PLUS, this might just be what convinces you, since it’s just about the coolest thing ever. Again, you can learn all the particulars on this page.

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All Fall Down

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The decline on NDX on Friday was over 4% high to low intraday, and that was the most powerful one day decline that I’ve seen on an equity index in some years. I was talking on Thursday last week about the resistance trendlines on NDX and AMZN still being in doubt, and both were nicely clarified at Friday’s high. I also mentioned in that post that before the swing high that we are expecting here Stan and I would ideally like to see new all time highs made on all of SPX/ES, NDX/NQ and RUT/TF, and we saw all of those made before the reversal on Friday. This is a high quality candidate swing high here, but I’m just going to talk about NDX/NQ today as that has been driving the equity bull bus this year, and is the most important place to see high quality highs being made. (more…)

Right on the Midline

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Yawn. The excitement of Friday is another distant memory. We’re back to all equities creeping higher, slowly but surely.

I wanted to share with you an index with which I was unfamiliar until SlopeCharts came along – the S&P Total Return Index, which according to Investopedia:

The total return index is a type of equity index that tracks both the capital gains of a group of stocks over time, and assumes that any cash distributions, such as dividends, are reinvested back into the index. Looking at an index’s total return displays a more accurate representation of the index’s performance. By assuming dividends are reinvested, you effectively account for stocks in an index that do not issue dividends and instead, reinvest their earnings within the underlying company.

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Splat

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As you well know, Friday was a bad day for tech stocks. All it took was a single memorandum from Goldman Sachs about a “valuation air-pocket” (whatever THAT means) to slam literally hundreds of billions of dollars of assets into non-existence. Amazon is a good example of how swiftly this “air pocket” got deflated………

0612-AMZN

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