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.
Here we take a look at the BDI once again and marvel at its complex Inverted Head & Shoulders pattern with compound shoulders. Of course, that is a TA’s way of baffling ’em with technical sounding bullshit when what he really means is ‘look at that freakish thing; I don’t really know what it is but man it looks bullish!’
BDI is a shipping calculation, not an index; and hence, who really knows if it even translates well to a stock chart? But in my highly technical opinion, man, this freak looks bullish (and positive for the global economy). (more…)
Other than on asian markets, there is a lot of negative divergence on US and european indices on the weekly and daily charts now, with the first of those fixing on the RUT and FTSE daily RSI 5s this week.
SPX has possible daily RSI 14 and RSI 5 sell signals brewing, one half decent red daily candle would likely fix both signals. SPX daily chart:
Long TD Ameritrade (AMTD)
Jet manufacturer Embraer has been doing well as a short this morning, dropping over 7% as of this moment. I’ve mentioned this one frequently on Tastytrade, as it’s one of my 43 shorts, and judging from past performance, I’d say it’s got plenty of more downside potential.