I’ve got another sweet new SlopeCharts feature for you: Jump to Sector. To use it, just right-click anywhere on the chart……….

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I’ve got another sweet new SlopeCharts feature for you: Jump to Sector. To use it, just right-click anywhere on the chart……….
Alphabet (AKA Google) has had a rough three days, falling each day since its earnings came out on Monday. I noticed something interesting, however. Thursday’s low came precisely at the Fibonacci fan line.
Since my post a week ago SPX has retested the all time high as expected and made a marginal higher high, the rising wedge from the December low has broken down, the second daily RSI 5 sell signal since the December low has fixed, the first having played out into the March low, SPX has broken important short term trend support at the 50 hour MA for the first time since March, and backtested that as resistance, and also broken the weekly pivot at 2925.
(more…)The big winner of the day, the oft-mentioned short Fluor, and another bold victory for SlopeCharts. I have covered for a 30%+ profit.