On the intraday chart, it looks like the Dow Jones Composite is painting out a diamond, which is one of my favorite reversal patterns.
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.
Improving Macro Backdrop
In light of a shifting global macro backdrop that we can finally sink our teeth into with respect to a bullish orientation on the gold stock sector, I thought it might be a good idea to publicly post some bottom line thoughts from this week’s NFTRH report.
The report went into great detail to explain why more fundamentals that matter are starting to come in line, after the chart below refused to make a signal against our big picture view of global economic contraction, which has been the biggest key for the counter-cyclical gold mining sector.
After a strong up-move in December of more than 30%, athenahealth, Inc. (ATHN) has been consolidating in the last 3 weeks in a bullish flag pattern with a very clear upper resistance descending trend line. If broken in the coming days at around the 144 zone, this could continue the up trend begun in mid-October 2014.
It was interesting to hear, in the midst of the Davos love-fest where the world’s elite get together each year and pat each other on the back for a job well done, that Oxfam released their study stating that by next year the top 1% of humanity would own more than the remaining 99%. (Incidentally, for those interested in the topic of wealth distribution, check out the interesting SocialTrade stack.)
Here’s today’s swing-trading watch-list:
Long Verizon (VZ)