It seems an eerily quiet day with not much to say – – perhaps tomorrow morning’s job report will shake things up – – so I’ll just share this chart of CBS, which I think has created a beautifully well-formed diamond reversal pattern.
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.
Range Rage
Well, I’m going to file this under “What was I thinking?” This weekend, I made a point of saying how it looked like we were at the lower end of a range we’ve been in since the start of the year. Freakishly, I was loaded up on short positions. (In all sincerity, the individual charts did look bearish, but we all need to respect the power of the market as a whole to move individual stocks). In any event, somewhat predictably, we have powered higher all week……
The ES Triangle
The late decline yesterday was interesting for a few reasons. The most important of those was that it was a failure at triangle resistance on the ES daily chart. That has been tested again in globex and is holding so far. The bulls either break over that triangle resistance today or the only available direction will be down. ES daily chart:
Four Charts to Watch
Here are 4 charts in continuation patterns that look poised to break out.
Originally published on TraderHR.com.
Penultimate Prosperity Recording
You’ll need to excuse me, my friends, since I need to go do another recording session for Audible Inc’s forthcoming audio book version of Panic Prosperity and Progress. I’ll be back later, and I’ll do a good post – promise!
