After the big tumble PLTR took earlier this week, it should be noted that today’s rally is pushing it very close to the price gap, which might spell a bearish opportunity for those who dare to defy the hair.
Palantir Gap
Slope of Hope Blog Posts
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Assessing Bear Flag Inflection Point
In my post on 17th April I posted some 15min charts with arrows showing an ideal path to forming bear flag wedges on SPX, QQQ and DIA. I added one for IWM in the post after that. I’ve updated these since but left the original arrows where I first drew them for reference on the last four charts today so you can see I wasn’t that far off.
In my post on Tuesday 29th April I was saying that ideally we would see a modest decline (by recent standards) to play out some negative divergence on SPX, QQQ, ES and NQ and we saw that play out over the next few days with all the hourly and 15min sell signals I mentioned in that post reaching target. After that I was looking for another and probably last leg up within those bear flags and since then we have seen new rally highs on all four.
In my last post on Thursday 1st May I was looking for more upside with a likely high early this week, and that hasn’t quite delivered, though I think there is a good case for seeing my target area hit today or tomorrow.
(more…)Crappy Days Are Here Again
At the risk of sounding morose, I’m getting the sinking feeling that the teeny yellow sliver of time, lasting only about 39 trading days, is going to be “it” for the bears. After all, the entirety of the plunge was based on the trade wars, and now that we’re in only the very earliest stages of negotiations with trading partners all over the world – – and considering the mega-rally which has taken place based on solving merely one (relatively minor) country – – it gives me pause to think of what’s next.
Is This Still A Bear Market Rally?
King of the Britons!
Welp, there you have it. A tidy example of how fantasy beats reality. The easiest trade deal that we could have possibly executed is done, and even THAT is a nothing-burger.
