With all the madness circling Tesla these days, I thought we’d take a look at a SlopeChart (HINT HINT, you should be this product, NOT whatever you are using now) of the company. In particular, take note of that green trendline, which had been inviolate for years. It was challenged at times (see arrow), but it was only recent broken to the downside.
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.
Retail Breaks to New Lifetime High
I now know something I didn’t know before – – or at least refused to believe. But now I’m a believer. There is no limit to how much crap people will buy in a desperate attempt to fill the void in their souls and desperately pile on credit card debt in a feckless bid for happiness. Keep buying, folks. Consumers will never be satisfied, and they will never stop buying.
What’s Going On Here?
Did someone accidentally shove yesterday’s tape in? This is getting silly. Here’s yesterday’s end-of-day action………..
Bull Flag Compression
ES has been compressing for a couple of days now, forming a likely bull flag for the next leg higher. That may have made a low overnight or may have a bit lower to go before the next leg up begins. A break and conversion to support of the current short term high at 2863.75 ES should clear the path to the all time high retest. Partial Premarket Video from theartofchart.net – Update on ES, NQ:
A Very Serious OXY-Dent
I have a variety of short positions in the energy sector, and one of them today is doing particularly well: Occidental Petroleum, which gapped down below its range.