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.
The combined impact of a better-than-expected non-farm payroll gains and the prospect of a Trump repeal of Dodd-Frank financial regulations goosed the Financial Select Sector SPDR Fund (XLF) +1.3% in early trading.
That said, let’s notice on the enclosed near-term Point & Figure chart, that current strength is pushing up towards a test of very powerful resistance at a quadruple high-print of 23.80.
A climb to a 23.90 print will trigger a new buy signal that will project to new high targets of 24.60 and 25.20. Only a print of 23.00 will compromise the constructive P&F set-up.
Originally published on MPTrader.com.
Another chart I’ve cited as an intriguing short idea is AutoNation, which is down a bit more than 2% today. I think we’ve got a clean triple top on our hands.
On a wholly separate note, here’s the S-1 for hotly-anticipated IPO Snap, Inc. They lost over half a billion dollars on $400 million in revenue, which is quite a feat. And yet people cannot wait to buy into the disappearing dick-pics champion.