I’ve pretty much hung up on the towel on energy shorts (2023 represents a locker room full of hanging towels, actually). Oil, represented below by way of USO, has clearly broken above its right triangle.
Oily Muscles
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.
Battery Pack
I see Rivian vehicles every day, both in the form of cool-looking trucks as well as shiny new Amazon vans. I’ve always thought they looked sharp, and Tesla has quite clearly turned its back on this entire sector. As a chartist, I continue to think Rivian (RIVN) is good-looking, particularly given the strong surge in volume attendant with its rise.
Patterns in Play
Good morning, everyone. Well, this promises to be an interesting week. Tons of economic data and even more tons of earnings reports.
Of course, given 2023’s legacy, we approach the new week with all green equity futures. Just about the only red on anyone’s screen isn’t even related to equities, but crypto. From mid-June to mid-July, Bitcoin shot up 25% based on the latest Reason To Buy This Thing, which was that institutions were cobbling together funds so ordinary people could lose their money on it. Well, the thrill is gone, and BTC has eroded from around $31k to $29k in the past few days.
It Would Be a Welcome Change
A Mesmerizing Curve
Found this over on /WSB, of all places, and it’s a beauty:
