Since only last November, Facebook (oh, sorry, META) has gone up 250% In doing so, as of today, it has perfectly sealed its massive price gap from way back on February 2, 2022.
Perfect Meta Gap-Fill
Slope of Hope Blog Posts
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Worldwide Inflation
PREMIUM: Worldwide Trendlines
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So What Next?
Pretty much everything I have written about in my last few posts on SPX delivered. The bull flag wedge from the high broke up. The IHS that then formed broke up and made target, and the bull flag made the target with a retest of the June high.
So what now? Well I was saying that I was expecting a retest of the high to form a topping pattern setting up a larger move down in a reversion to the mean move. The level I use as the mean is the 45dma and that is now at 4287. The last two such moves broke down through it and, if so, I would be wondering about a possible target at the main rising support trendline from last year’s low, currently in the 4090 area.
(more…)Rivian Keeps Rocking
Electric truck maker Rivian (whose vehicles I am constantly seeing around town these days) continues to zip above its well-formed inverted H&S bottom:
