This is going to be a monster week for earnings, but this afternoon is the most tepid of them. The only big name is International Business Machines, which is extremely close to lifetime highs.
Big Blue Afternoon
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.
Slip Up
Well, it’s clear that the U.S. government schlepping to Saudi Arabia to plead for them to turn on the oil spigots has done absolutely no good at all.
A Short But Winding Road
In my last post I was talking about the possibility of a triangle forming on SPX. That triangle arguably then finished wave D at the low that day and then broke down the next. Had that been a bear flag triangle then the target would then have been a retest of the 2022 low, but it seems likely from the action since then that if there is a bear flag forming here short term, which seems likely, then it is still forming.
I’ve drawn in some trendline options on the SPX chart below for a possible larger bear flag triangle or rising megaphone. The megaphone resistance trendline is in the 4025 area is the highest obvious option.
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