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I can’t pretend to be the least bit surprised at the market’s continued strength. Part of the “fresh perspective” that SlopeCharts has given me is access to a bunch of worldwide indexes I had never been able to look at before, and they are so unanimously bullish, there is no reason at all to be beating the desk about how the world is going to end.
Indeed, the “Trump slump” that hit us 15 days ago (remember Comey and how that actually mattered for a few hours?) did one thing and one thing only: successful tested the blue trendline’s role as support, whereas it had been resistance beforehand. The morning after the Trump slump, WHOOSH, it was off to lifetime highs yet again.
Thank you to everyone who contributed suggestions via my post yesterday about what they’d like to see in SlopeCharts. It really helped me understand your priorities.
I’d like to follow up now by asking what methods you’d like to be able to share charts. Please check the boxes below (as many as you like) of sharing methods which interest you. It just takes a moment, and it will help me set priorities. Thanks!
For no particular reason, I remembered that back in December 1998, Henry Blodget offered up the insane (at that time) projection that Amazon’s price would go up to $400 per share (that was many splits ago, so don’t take that price into account with respect to current prices). He got torched for this nutty idea, and it wasn’t long thereafter that his career was in tatters (for basically speaking well of stocks publicly while denigrating them privately).
I just thought I’d show you the chart of Amazon’s entire history, including a red arrow marking the point where Henry said to buy the stock. It took a little while, but let’s face it, the man was being conservative.