The U.S. Dollar is back above the major support level of 95 after a brief break below, as shown on the Daily chart (cash index) below. As I mentioned here and here recently, I believe a large move is coming, one way or the other, in currencies. The RSI indicator is back above the 50 level, hinting that bulls are back in charge of $USD.
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.
Here’s today’s swing-trading watch-list:
Long Quanta Services (PWR)
Here’s another fine example of how IPO mania can drive a stock up to prices that have simply no basis in reality: Shake Shack exploded to nearly $100 per share after its IPO. Since then, it’s lost about a third of its value. Remember, this is in the context of a market at lifetime highs. You don’t have to imagine very hard what sell-side analysis were saying to customers as the stock approaching triple digits. Hint: it wasn’t “sell here.”