Bombs Away!
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.
Intel’s Tragic Tumble
Just two years ago, Intel looked like one of the strongest, most stable, most promising equities in the known universe. This chart is a thing of great beauty, and INTC had made many people a tremendous amount of capital appreciation.
Rallying From Major Support
We saw the breakdown on SPX that I was warning about on my last post, and so far SPX is finding support in the 4000 area, which is the obvious support level as there is an intersection of decent support levels here. There are hourly buy signals fixed overnight on all of the six equity index futures I track on a daily basis and, subject to FOMC today, the pressure to deliver a rally today is strong.
The only support level not yet quite tested is rising wedge support from the 2022 low, and I’m wondering whether that, currently in the 3965 area, might need a test before the rally that we should see here. If we do see a test of that trendline and it holds, then that will open wedge resistance, currently in the 4240 area, as a possible target.
(more…)Lower Lucid
Tesla wanna-be Lucid Motors (LCID) was, at one time, a successful SPAC stock. Of course, there isn’t a SPAC on the planet that actually did well in the long run, and even before this evening, Lucid’s stock price was sucking out loud.
