The arrow is wholly conjectural, obviously (and a bit hopeful……….) but the point is to keep an eye on how the KBE behaves as it approaches the Himalayan mountain range of price action tinted in pink.
If Nothing Else, Watch KBE
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.
Amazon Uptrend Failure
This might be a big deal.
Upshift
At the risk of coming off as a fanboy, I’d like to say again what a good-looking chart Rivian (RIVN) is. This company is very lucky that Tesla has basically turned its back on this entire class of vehicle. It’s kind of stunning, really.
Nigh is the Day
So here we are. Right in the thick of the biggest earnings week and only hours away from the latest Kabuki theatre from Mr. Jerome Hayden Powell. It’s the 5th FOMC of the year, folks, and the big question is – – – 0 or 25? I think the bigger question is……….what’s the reaction? Because the actual decision doesn’t really seem to matter.
Half an hour before the opening bell, all the equity futures are in the red. Yesterday the /ES went absolutely roaring higher for no discernable reason, and it was interesting to see the drivers of this thing slam hard on the brakes the millisecond we reached last weeks’ peak (two green circles). Now we’re meandering around again in no man’s land, with the decision whether to break above or below this range looming before all traders.
