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I have a couple of technical study sets called Max Sensitivity and Min Sensitivity. As you might guess, the “max” one tends to be very volatile. I was curious, however, since my belief is that banks are weakening, how the “min” study set looked with a couple of major financial funds. Here is XLF:
Just a follow-up on one of the few long ideas I’ve been pushing in 2019 – – this is definitely a stock with its share of ups and downs, but the fact is that it is steadily making higher highs and higher lows, the very essence of a growth stock.
I think the graph speaks for itself. This is a beauty, particularly since it got hammered into a bearish reversal on the Powell Put day.
In my post last Friday I was talking about the likely retest coming of the new all time high on SPX (and ES), and how that should set possible daily RSI sell signals brewing on SPX (and ES). We saw that ATH retest and marginal new ATH this morning and I am now looking for a high. It is possible that SPX/ES might go a bit higher but I wouldn’t expect much higher and I’d note that there is already a decent quality double top setup here and that on a sustained break below 2964 the double top target would be in the 2923 area.
(more…)Preface to all editions: I have been in “I can’t believe I forgot this was on Slope” mode quite a lot lately. If I can’t remember all the cool stuff, surely some of you may have forgotten too! In that spirit, here are some reminders:
For myself, I’m going to get some much-needed rest. You can deal with this Powell lunacy on your own.
