I’ve been pointing out some of the more interesting “unicorn” IPOs recently, with Slack (symbol WORK) being of particular interest. It finally caught fire this morning.
Off to Work
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.
FNGU: Blow-Off Top Coming?
I last wrote about FNGU in my post of December 26, 2019.
FNGU is an exchange-traded note that tracks 3x the daily price movements of an index of US-listed technology and consumer discretionary companies. The index is highly concentrated and equally weighted.
Since then, price blew through both the 78.6% Fibonacci level and it’s prior all-time high, as shown on the following weekly chart
The Balance of Power still lies in the hands of buyers, in spite of a bit of a blow-off in the last weekly candle. We may not see a trend reversal until this indicator spikes to, and closes on, a new high in one of the coming weeks.
(more…)