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The topping patterns on the major indexes are awfully good looking lately. Below, I’ve put forth my best efforts to figure out the appropriate price level where the definitions of the topping patterns go. Newer Slopers, please note that you can almost always click on a given chart to get a big screen-filling version of it.
Well, folks, since the NASDAQ QQQ moved about one-tenth of a single percentage point, the amount of stuff there is to talk about isn’t much greater than it was on, let’s say, Sunday. Things barely moved at all today (grateful as I am that it was red across the board, albeit barely). So I’ll just share some key ETFs and a few thoughts on each.
Starting with the EFA (worldwide equities, except for North America) we see a picture-perfect gap fill and a price push precisely to the underside of a broken major trendline. This is super clean!
The mega-rally that started two weeks ago has, in the cases of stocks that were particularly badly savaged, been serving to push prices back toward crucial price gaps. We’re getting awfully close on some of these. Here are three concrete examples:
One of the biggest shills in the entire crypto space is Mike Novogratz. Early this year, he decided to get a tattoo on one of his arms celebrating the LUNA “stable” currency, and he proudly tweeted it:
