On the heels of my Reddit Gets Legs post from three days ago, after-hours trading shows RDDT exploding to lifetime highs.
Reddit Soars
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.
Got Me Beat
As rough a day as I had, there’s at least one fellow who has me beat by a mile. We start off on /WSB, where he shares what had been a handsome trading account with good results. This snapshot was on October 20th, just over a week ago.
A Mixed Baq
It’s a true pleasure to be just composing a post about charts again. What a relief!
Anyway.
Two monsters in tech reported after the close. The first, Alphabet, is flying higher. It’s funny, because I off-handedly said about GOOGL “This thing tends to go ten bucks up or down after a report“, and that’s precisely what it did (up, clearly).
Chop Chop
Equity indices have been chopping around in recent days, and the action seems to be getting less interesting by the day. Overall this looks like a bullish consolidation, with SPY, QQQ holding above their daily middle bands, IWM trying to break back over the daily middle band, and only DIA holding below the middle band there.
There is a lot of talk about a possible larger decline brewing, and with Vix in the 18 area, and a lot of uncertainty about the presidential election, currently too close to call, as well as a couple of ongoing wars, there is certainly enough potential news around that could help a decent retracement along.
The problem is that the setup for a large decline here is currently thin, but it could improve. The current move looks like a bullish consolidation but if that delivers and we see another move up, there are some significant levels that could be hit to improve a topping setup here. In part because there really isn’t much going on today on the equity markets, I’m going to have a quick look at that today.
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