On Tuesday, I wrote this post, which declared that the ES uptrend was broken. Now I want to say two things very clearly at the outset. First off, the last couple of months have been very hard on me, and earlier this week in particular was devastatingly hard from an emotional standpoint (Northy and I were holding onto each other for dear life at times). So I confess I was reaching a bit to look for any “good news” for the bears, which was a motivation behind the post (although I absolutely was sincere about the trendline break).
Second, the comments I’m going to share below are in no way meant to disrespect or “call out” the folks replying, because they were said respectfully (and God knows I’ve been wrong more often than right in my lifetime). At the time, they did sting a bit, because – – let’s face it – – charting is my life, and if my interpretation of trendlines isn’t valid (or if trendlines themselves are pointless), well, I might as well go work in Home Depot.
I’ve written about the huge head and shoulders top on DXJ many times, most recently with my Japan’s Dandruff post. It’s good to see that, at long last, the pattern is beginning to assert itself. If only the same could be said for our own captured, pointless equity markets here at home.
I’ve written about Apple many, many times here on Slope (like here, here, and here). Way back in December, I wrote a post called Apple Headed to the 80s in 2016, whose conclusion you can probably figure out without even reading the article.
Of course, I’m an oddball, since the shills in the mainstream media think Apple does nothing but go up (or at least is destined to). Take this gem, for example, which was published a couple days ago:
Anyone remember this from ZeroHedge back on March 17th?
About a week ago, I offered a post on silver which suggested that, should it push past its horizontal resistance, the completed inverted H&S pattern would send it roaring up to its trendline. I’ve tinted the trendline below, although this certainly isn’t a specific target; it’s just there to give you the idea.
As a follow-up to my Mr. Peabody is Put Down post of January 11th……….
The largest coal producer in the land had, for years, what seemed to be an absolutely superb stock on its hands. It was the kind of graph that a Google or MasterCard enjoys……..