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Utilities had a blow-off top signal trigger on the recent rally. It was similar to pops in 2022. Two are on the index, and there were actually three on XLU. The year 2020 also had a similar setup, but I don’t think that’s an analog…at least as long as rates aren’t being cut.
If the expected move based on those more recent rallies and reversals plays out similarly (corrections ranged from 10 to 20 percent), it could test channel support that goes back to 2003.
Given the choice between spending $25 on ingredients and making a home-cooked meal or spending $100 and eating out, I guess folks are choosing the 300% premium. Personally, I prefer cooking at home.
Remember the app “Get Real”? Maybe not.
See, it was a really hot thing back in 2022 for a few weeks, because it had an interesting twist: instead of encouraging people to share totally idealized and fake characterizations of their lives, it had people show themselves, when prompted, with whatever they were doing, and however they looked, at that particular moment.
For understandable reasons, this fad faded quickly (since people prefer the idealized fakery), and the app withered away. Weirdly, the company still managed to pawn itself off for over half a billion bucks a few days ago, which seems like an odd choice for the acquiring company.
Just a friendly reminder that the SlopeBot page is ready for your artificial pleasure. Just click here – – it’s free to everyone!
