Not that American cars suck or anything………anyway, I’m already short Ford as well as a bunch of auto-related product companies. Down, baby!
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.
Commodity Break Possible
I put this chart together before oil fell apart, so you can rest assured commodities are now officially screwed…..
Tim Right
I did a post on Tuesday morning about Apple in which I stated, in part, “ the “pulses” higher….are, to any observer, shrinking with power.”
I happened to stumble across a comment in the post that followed by someone who apparently wanted to put me in my place since, you know, I have no clue about charts…….. (more…)
The Eternal Triangles
If there’s one thing that SPX has been really good at over the last year or so, it is pausing at highs, and one of the best ways to really kill time at highs is to form triangles. The obvious read on SPX here is that a triangle formed from the all time high nine weeks ago, and that broke up at the start of last week into another smaller triangle that is forming from last week’s high.
The obvious read on this current smaller triangle is that it is bullish into the ATH retest that we have come close to a couple of times but not seen as yet. Given though that this triangle has formed on the break of the larger triangle, there is a decent bear scenario here where SPX breaks down from this triangle in a backtest into the larger triangle, before a triangle thrust up that at least delivers that ATH retest. If the bear scenario is going to play out then the first signs would be breaks of rising channel support and the 50 hour MA, currently at 2386 and 2384 respectively, and the target should be at least a backtest of broken triangle resistance, currently in the 2360 area. (more…)
Do You Dare?
I know that shorting Amazon has been a fool’s game for, what, about eight years straight now – – but the risk/reward ratio is awfully tempting. I’m going to give it a shot with a $955 stop.