Here’s today’s swing-trading watch-list:
Long Southwest Airlines (LUV)
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.
I bring you another sordid tale from the mean streets of my fair city. A member of the city’s Architectural Review Board apparently took a liking to a pot she saw at someone’s house. The video speaks for itself (and I’ll say nothing more, except to remark that I have no fondness for Palo Alto city government, so I thought this was kind of a hoot):
A new scam emerges: A news scam emerges:
Bloomberg: The Hot New Statistic Oil Traders Are Watching Is 71 Years Old
Those trading light, sweet, and sometimes crude oil last Friday may recall this little order flow anomaly right at Noon Chicago time – a very nice little jagged ‘M’ formation:
Well, that’s just a shame. Add another potential reversal chart to the ashbin of permabull history. The Dow Jones Composite diamond pattern is no more….
The rising wedge I was talking about yesterday morning broke down and retested during the day. We are likely to see some retracement here and possibly a significant high. If we are looking at a retracement my minimum target area is the 23.6% fib retrace in the 2073 area, but my usual target range would be the 38.2% fib at 2055, the 50% fib at 2041 and the 61.8% fib at 2026. I would note that the daily middle band closed yesterday at 2053, so we might see a retest of the daily middle band. SPX 5min chart: