To wrap the day up, I thought I’d share some up-to-date “pairs” from SlopeCharts, which I think tell an engaging story.
Pair Torte
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.
Build That Wall
I just wanted to announce a couple of formerly free pages went behind the paywall. Specifically, the Correlations Page is now for Silver, Gold, and Diamond members, and SlopeAlerts is for Gold and Diamond. Of course, the easy solution is to sign up for a membership. Regardless, here’s a favorite tune from the lovely Aimee Mann.
Janus Flag Targets
On Friday afternoon. in the webinar I posted on my twitter, I was talking about the either way setup that had formed on equity indices with the formation and break down from head and shoulders patterns on SPX, NDX, RUT and INDU. I noted that on this setup there were only two strong targets to watch, and that was either a move to the H&S target, on SPX a retracement to the May low at 2766, or a rejection back up into a retest of the June high. In the case of the rejection that would be a pattern that I would call a Janus (Bull) Flag, I see a lot of these and they make the rejection/retest target 80% to 90% of the time. When the target isn’t reached there is often a near miss.
The H&S patterns have since all failed, so the Janus Flag targets are fixed on all of those indices and in the absence of strong evidence to the contrary, I’m expecting those targets to be reached.SPX 60min chart:
(more…)Fine Dining
Some of my better-performing short positions in this dreadful environment have been those related to casual dining. By using the Jump to Sector feature in SlopeCharts, I was able to look at a wide variety of symbols, and I’ve shared my nine favorites below (a few of which I’m already short):
Man Overboard
Long-time readers know of the contempt I’ve got for cruise liners, and this industry has been especially hard-hit by Covid.
