Hello everyone. I’m still questioning my sanity removing ads from the site. The ads basically cover my entire mortgage bill, and I got rid of them mainly for aesthetics, speed, and out of the hope that, over time, people would decide to sign up for a PLUS membership and get the full benefit of the site. We shall see. I’m going to give it a few weeks to see if memberships start to grow. If they do, I think I’ll stay ad free. If not, I’ll probably bury this place in ads. I’d prefer to focus on PLUS, though!!
As for the markets – – today was obviously a good and encouraging day. The very important Dow Composite has been making good progress lower, but it MUST – – and I say again, MUST – – break the trendline shown below. This grind is agonizing and has got to stop!
The insanely-valued NASDAQ Composite gave up some ground today. What is INCREDIBLE to me is today’s range PERFECT spanned the two horizontals I had drawn weeks ago. I am talking about pixel perfect. Just…………WOW. Anyway, we need to break the yellow tinted area to really kick Netflix and Amazon fan-boys in the teeth.
The Dow 30 chart is a bore. Obviously we need to break the yellow tint here, and that’s a good thousand points away.
The NASDAQ 100, importantly, has a failed bullish breakout.
Lastly, the small caps, represented by the Russell 2000, has been repelled by the resistance trendline. You can see via those arrows what happened last time.
Spread the word about SlopeCharts! Tell your trading friends! I have NO CLUE why anyone would want to use any other charting platform. Honestly. Spread the word. Save your friends from inferior charting.