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Even though we’re out of the main earnings season, there are still some companies of note that are issuing reports, even at this late date. The big one tonight is Dell, which is just beneath a very clean triangle top. Resistance is at 114.15.
Nope, this isn’t another post about the gay sex hookup app (GRND, if you must know). It’s about the nature of the /ES market right now. Having climbed about 100 points For No Particular Reason, it has found a happy home grinding around precisely at its 10-month long trendline.
Back on February 28th, I did a premium post, my first in a series of posts about shorting Dollar Tree (DLTR) and Dollar General (DG). Let’s just say that the timing was almost perfect, since the stocks would lift for just a few more days by a little bit before going into their own vicious, private bear markets. This morning, they’re both getting torched.
Last time, I saw some very apocalyptic tweets about how the market was going to crash today. I didn’t feel this way. My response to the NVDA news wasn’t exaltation but RELIEF. So long as the sucker didn’t gap up 20 points, I was a happy guy.
Yet, I saw the at Wednesday’s close, the market was pretty oversold, and a bounce was in order, and a bounce on the /NQ was precisely what we got and EXACTLY where I hoped it would go.
In recent weeks, I’ve been spending a lot of time and money on our data back end. I’d like you to know of a meaningful improvement that is now live, which is higher quality intraday charts.
A week or so ago, I wrote to the Gold and Platinum folks about this, but it’s even better now. There are two huge improvements:
I’d also like to mention that Slope cleans up the data which, I assure you, has been notoriously dirty for my entire multi-decare career. This is what 120 days of minute bar data looks like with SlopeCharts filtering:
