To my eyes, it seems they’re about to roll over…………..again:
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.
Swing Trading Watch-List: FB, WDC, VLO, UBNT, BX
Another Day, Another New High
Another day with no significant pullback and a new all time high yesterday. There is still definitely a small retracement needed soon but that will happen when it happens. In the meantime SPX is getting close to testing my main resistance zone, which is now in the 2011-21 area. On the daily chart the resistance levels in the zone are the daily upper band, currently at 2011, and rising wedge resistance from the January low, currently in the 2015 area. The daily upper band will most likely cross 2015 within a couple of days. SPX daily chart:
Gold Hatred and a Long-Winded TA Screed
We are operating to parameters on a would-be gold sector bottoming process, which has been a year+ long grind (‘grind is good’ as it absolutely ruins peoples’ nerves over time) and which by the way, everyone sees now as either a final bottom or a consolidation before the final and spirit destroying wipe out, depending on their Team’s hopes and aspirations (bull or bear).
About a year ago NFTRH projected two possibilities (within the context that it was only in the realm of potential) and they were a ‘W’ bottom or failing that (it promptly failed) an Inverted Head & Shoulders on the HUI. Today a new pattern has joined the IH&S and it is a Symmetrical Triangle, which would be a consolidation before the final crash. (more…)
Nosebleed Altitude
One stock which shows what an obscene hockey stick the market has become is Southwest Airlines. This airline – let me say that again – AIRLINE – has a P/E of almost 27. Why? Search me. Maybe their in-flight snack offerings give people telekinetic energy. Anyway:
