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.
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.
Did someone accidentally shove yesterday’s tape in? This is getting silly. Here’s yesterday’s end-of-day action………..
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:
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.
At the risk of making it seem like Slope has become a crypto-haven (it hasn’t…….) I must say once again how remarkably well-behaved the crypto crap is when it comes to technical analysis. This is how it’s supposed to work, expressed as a chart, when central bankers are falling all over themselves to prop things up. Good old classic human psychology at work.
Here, for instance, is LiteCoin. Notice how each key support level, once it gives way, leads to fresh weakness.