Preface to all three parts: I have, understandably, a fairly light portfolio of shorts at this point. I have broken my 39 positions into three equal portions. Here is one-third of them:
Unlucky One
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.
SPX Approaches Main Resistance
SPX has gone through a lot of trendlines and divergence on this amazing move up, with the last lot breaking on the move over the 3350 area including the negative divergence on the daily RSI.
SPX is very stretched here, has punched 100 handles over the monthly upper band, touched an amazing 7.1% above the 45dma when I last annotated that chart yesterday, and is now close to testing the last and largest resistance trendline on the chart.
That trendline starts at the March 2009 low, held support at the 2010 low, and then was touched as resistance at highs in 2011, 2012, 2014, 2017/8, 2020 and is now close to being tested as resistance again. That trendline hasn’t broken as resistance since SPX crossed below it in 2011, and I have it in the 3510-20 area at the moment, though that is an approximation on a trendline that is now more than eleven years old. At the time of writing SPX has reached a new all time high at 3508.07.
(more…)August’s Last Bar
From Shinola To…..
For those of you acquainted with the old expression, it seems fitting to me that the latest luxury retail store to shutter its doors in the slowly-suffocating downtown Palo Alto, was none other than Shinola.
Let the Wookie Win
I guess Pets.com was simply twenty years too early.
