Airlines have been one of my favorite short targets recently. I re-entered them again yesterday, based on this big Wednesday rally we had. Here are a few:
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.
Most Useless Headline of All Time
Got that? Sixty percent. So plan accordingly.
Swing Trading Watch-List: AMZN, BYD, EBAY, PSX, ROST
The Daily Middle Band Test
A very strong day yesterday and SPX broke and closed over the 50 hour MA and the 50- day MA and EMA. I’ve looked at the stats for tall white candles that have broken and closed over the 50 day MA and EMA in the last year and there have been eleven. Of those eleven only one closed below both the next day and that was marginal. Six never even retested them as support. They closed at 2100/1 and that may well therefore be very strong support today.
If these hold on a retest, which I’m expecting them to do, then the next level of resistance that the bulls need to break is at the daily middle band and declining resistance from the high at 2111/2. A close back over this level with any confidence opens up a retest of the all time high at 2134. SPX daily chart:
Big Bounce Bollocks
As I glance out the window, the yard is drenched with rain. Those of you who don’t live in the Bay Area need to understand why I point this out. It never rains except from November to March. Ever. For it to rain in June is the equivalent of Hillary Clinton successfully visiting the petites section at Bloomingdales and fitting into everything she tries. It’s the equivalent of a snowstorm in Phoenix in August. It just. Doesn’t. Happen. But……..
