For the insane among us, there’s still a pattern that looks bearish in this all-green market: take note of the similarity between the current topping pattern and the prior one:
In the spirit of “everything is going up anyway”, let’s take a look at General Electric, which is one of the few stocks which has actually had a rotten 2017. Take a look at the indicators basing and turning higher as the price collapse seems to have put the brakes on.
Having gone through the index charts this morning, I can only say one thing: there isn’t a single bearish thing I can say about any one of them. They just………..keep going………..up. There aren’t any topping patterns. There aren’t any particular demarcations to indicate a reversal. They simply keep ascending, irrespective of anything.
Is this my “capitulation”? Yeah, I guess so. And I’m going to take it a step further with my avatar. The pirate flag is being lowered. I’m going to return to a mentally-challenged kid in a wheelchair. It seems far more fitting. TIMMAY!
The equity markets seem to keep pretending that the tax cut bill is a big surprise, as with each trading day it gets “priced in” again. Last night’s trading was no exception:
Hi, everyone. I just returned from seeing Darkest Hour, and it was every bit as good as I hoped. Oddly, most of the folks in the theatre were geriatric, so I guess movies with WW2 themes still appeal to an older crowd – – but it was a real pleasure to watch.
On an utterly different note, it occurred to me that it’s rather odd (particularly for newcomers) that SlopeCharts appears on the screen without………well……..a chart. Instead, it’s just a big blank space. Therefore, I’ve made it so that the symbol SPY shows up by default. You’re not stuck with this, however. If you’d like to use something else (like, say, $BTC), you can change this in Preferences:
Preface to all three parts: 2017 has been an exciting year for Slope, and I went looking among the literally thousands of posts this year to find what I considered the most intriguing. I earmarked twenty-one of them, and since that is too much for a single post, I’ve broken them into three equal parts (I’ll publish the other two before the year is over). Here, then, are the first seven of my favorite posts from the year and a few words about each one. Thank you, Slopers, for making this place thrive for so many years.
- The End of Invention – an angst-ridden post about my dread of boredom and desire to create something new (I didn’t realize it at the time, but SlopeCharts would cure this).
- Ramsey’s Year-End Review – a very detailed roundup of Ramsey’s year of binary trading
- Fear of Boredom – Clearly the angst from the earlier post was eating me alive at this point.
- Keeping It Real – in which I go off on Dennis Gartman on his flip-flopping and, shall we say, revisionism.
- They’re a Person Too – behaving decently toward your fellow human beings.
- Stupidity Unwound – an analysis of the Trump effect.
- Finger on the Trigger – a guest post about depression, suicide, and strength.