Long Twitter (TWTR)
I’m a big Monty Python fan, but as you might guess, being a good contrarian, I don’t really go for the standard classics like “Pet Shop” or “Ministry of Silly Walks” (good as they both are). I like the more obscure stuff. Below is my favorite album they ever did, which is almost entirely music or ditties. It’s brilliant, and I hope you like it.
There are a lot of open sell signals on the SPX & ES charts here. On SPX there is still a strong RSI 5 / NYMO sell signal that could reach target today on a weak close. If we see that weak close the possible RSI 14 sell signal brewing here would likely fix. SPX daily chart:
I talk quite a bit about Brazil here on Slope, and the breakdown in the ETF fund symbol EWZ symbols (and, likewise, the ascent in ultrashort fund BZQ). The trendline failure matters:
Well, I retract my “God is Dead” statement from yesterday’s post, because there’s no doubt God reads the Slope of Hope (he doesn’t have an account for comments, but if he did, I promise I’d give him a 5-star account). He decided to throw a lightning bolt at BWLD, and ouch, that hurt. So let’s turn our attention elsewhere.
Auto parts retailers have been extremely strong for months, recovering from a severe drop. I don’t think it’s time yet, but we’re getting close to important resistance.
Good morning, everyone – – just a quick chart to start the day: Credicorp has a very long pattern, and its resistance line goes back for years. We’ve got close to it recently, and we’re starting to tumble away. i think this has a great risk/reward ratio.