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 had a very busy day yesterday and didn’t manage to get a post out. Hopefully some of you caught my premarket tweet which captured the day nicely:
So what about those lower lows, which we haven’t seen yet? We the pattern setup is clear enough, with a small rising wedge that formed from the 2328.95 low and has broken down with a minimum target at a retest of 2328.95. To get there however the possible triangle support would have to break, and that’s at 2331 and hasn’t broken yet. While that triangle support holds SPX may still be returning to triangle resistance, currently in the 2371-3 area. On a break below that triangle support the downside opens up, and SPX can go considerably lower.
Forget about the FANGs, it all about the FAAMG stocks. Most traders & investors are familiar with the term the ‘FANG’ stocks, an acronym for the high-performing tech stocks Facebook, Amazon, Netflix and Google. Why Netflix, with a market cap of only $60.15B is included instead of the much larger Microsoft (MSFT), which not only has a market cap over over 8x that of NFLX (502.6B) but is also one of the best performing & top-heavy components of the leading index, the Nasdaq 100 as well as one of the top components of the S%P 500 Index? I guess the word ‘FANGs’ has a cool ring to it when spewed out by the financial media or something along those lines.
In my teen years, I was fairly obsessed with watching Dr. Gene Scott (and, inevitably, listening to I Want To Know). He was a fascinating character (now gone), but I stumbled upon this brief parody of him last night. I expected to hate it, just like I do any Bob Ross parody, but it is spot-on, right down to the constant lighting of the cigar and the completely inscrutable whiteboard.