Amazon (AMZN) hit my initial target of 353 for wave iii of the larger diagonal to be complete, but on a smaller scale it has room to extend a little more from the 350s to hit the trend line now floating between 375-380 through next week. (more…)
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.
- People don’t lie to themselves about how great the future is going to be, just because of an arbitrary date change (see: New Year’s)
- Restaurants don’t rip couples off by doubling the price on mediocre food, forcing them to dinner out of a sense of obligation (see: Valentine’s Day)
- No giant rabbit dung pebbles in the back yard to clean up (see: Easter)
- No rancid hot dogs (see: Independence Day)
- No celebrating of murderous genocidists (see: Columbus Day)
- No need to spend days preparing for a huge meal and dealing with multiple family neuroses and conflicts (see: Thanksgiving)
- No mass patronage of the consumer society and converting cash into objects that people could just as easily choose and buy for themselves (see: Christmas)
Halloween requires zero planning, $15 of expenses for some decent candy, and allows people to dress up and have fun. Bring it on. Halloween rules.
Here are the short setups: (more…)
Yesterday was a good start for the retracement that I’m expecting to see here, with a daily bearish engulfing candlestick on SPY. I am concerned though that there was no daily RSI 5 negative divergence at the high, and am wondering whether the high will need to be retested. Either way the engulfing candlestick, while a strong reversal signal, needs to be confirmed with more downside in the very near future. (more…)
I’ll throw charts at you tomorrow. For now, pour a glass of cabernet, kick back, and watch one of the greatest movies ever made. It’s a strange world.