Long Trinity Industries (TRN)
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.
Backtesting The Breaks
That was a very nice day on NQ yesterday. I was looking for resistance at the weekly pivot at 5768, and the RTH high was 5764. The target on a fail was 5641 and that was slightly exceeded in globex (buffs fingernails modestly) before the start of the rally that we are seeing today. Does this mean that the seventh seal has been broken and the Bearpocalypse has begun? Um … no, but this swing high may well finally be in, subject to what we see on these rallies/backtests.
On SPX the obvious resistance is the daily middle band (daily closing basis). That’s being tested at the moment. SPX daily chart: (more…)
Devil in the Details
My family collectively watches about zero hours of television every year, with one notable exception: the show Silicon Valley. I’ve only seen bits and pieces of it, but my son watches it obsessively, which I frankly consider a great education in the culture of this lunatic asylum. Someone put together an incredibly detailed analysis of its opening titles, and it’s fascinating just how much trouble the creative team went into making references that 95% of folks would miss. Check it out:
Toll-Free Tech Support
Well, the market – – especially the high-tech-laden NASDAQ market – – had been in full-blown swoon mode last night, but around the level 5640, it found the same support it had found twice before. The Powers That Be aren’t too keen on red quotes on their screens, and sure enough, Goldman Sachs fell all over themselves to come out with a report with a projection the S&P 500 a full 100 points higher at year-end than their prior report. All the same, I suspect this third test of the support shown below will be the last. Just one more bit of meaningful bad news will push us lower enough to magically change the role of that line from support into resistance.
Tech Blech
If, one happy day, the world is engulfed in financial cataclysm and mayhem, we can remember back to the days when the turd-throwing apes at places like CNBC were pushing stories like this:
