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.
The Peeve Of The Week (POTW) is an occasional feature on Slope which allows me to (a) gripe about something which bugs me, whether justified or not (b) put up a post when there's nothing in particular I want to say about the market. In spite of its moniker, the POTW may or may not shown up weekly. In any event, here's a new entry:
As "Peeve" entries go, this will be a quick one, but it's definitely one I want to get off my chest.
You can check it out from Amazon here for 40% off the retail price……
Another beautiful chart comparison from my good friend Serge……..
Today's run-up is looking kind of sketchy. Indeed, as I was going through my charts, there were some that were so compelling that I decided to re-enter some SMALL positions, even with tomorrow's big news day. (Suffice it to say I'll be glad when Wednesday is behind us).
If we do start to push higher tomorrow, charts like the one below have, I believe, the best opportunity for sustained, meaningful percentage gains. There are a variety of charts that have this "battered, but basing" look to them, and, on the whole, they are in the finance sector.
A break beneath the base, of course, simply says that already-battered stocks are going to show their underlying weakness yet again, and they'll probably fall faster than ever.
While Apple (AAPL) has rocketed to new all-time highs during the past several sessions, the price action has not been confirmed by momentum. In addition, price strength has propelled the stock 20% above its 200-day moving average, which juxtaposes the two indicators in the rarified air of "blow-off" territory.
That said, unless AAPL doubles back under 410-409, the near-term vertical assault remains viable and could propel AAPL still higher to test its upper channel boundaries between 418 and 426 in the upcoming hours.
Bottom line: Only a break below 410-409 will trigger warning signals, while a decline that breaks 406 is needed to confirm a near-term peak in AAPL.
Originally published on MPTrader.com.