I’m probably just letting the madness of the market get to me, but I offer below DraftKings (of all companies) symbol DKNG which is sporting an interesting basing pattern which it has expressed in the past.
Knight Says King
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.
His Magic Works in FX, Too!
A Welcome Failure
As a follow-up to my posted-in-the-wee-hours An Unwelcome Saucer, it seems that we have a failed bullish breakout on our hands. Keep in mind, these are short term moves, but at the moment it seems to me the bulls are getting precisely the dose of what we bears were getting a couple of weeks ago – – – that is to say, a through-the-night tease, follow by disappointment when the sun rose.
An Unwelcome Saucer
My sleep schedule is pretty screwy during this trip, so I woke up at about 1 a.m. Palo Alto time (4 a.m. North Carolina time) and saw something I didn’t want to see. Yesterday, upon observing the /ES and /NQ futures, there were two specific levels that, if crossed, would constitute a completed saucer pattern, and wouldn’t you know it, those levels were heeded with near-perfect reverence for the importance of those patterns:
