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.
Prepare to Get Tased
I remember in the early 1990s one of the hottest stocks was Taser International (TASR) which made, unsurprisingly, Tasers. They have expanded their product line, and the new company, Axon, has been blasting higher for years.
In recent months, however, it has carved out a well-formed head and shoulders top. The stock lost about $200 per share from mid-August to mid-October, but for those who missed it, I think a second chance to get short is very close. The neckline itself (dashed line below) is at 694.72, so I’ve shorted this with a stop at $695.
Defy the Right Triangle
Below is a chart of DeFi Development (DFDV). I am sharing it simply because it has an exceptionally clean right triangle pattern which, if violated, portends much lower prices.
High Quality Patterns from April Low
I’ve been having a very careful look over the weekend at the longer and shorter term patterns on the main US equity indices to assess the odds of a high forming here and today I’m going to be looking at the patterns from the April low, which are now looking as good or better than they did in early August.
First though, the rally on Friday from the lows was decent, but failed again to close back over the daily middle band, which closed Friday at 6674.42. That was tested as resistance every day last week and if it continues to hold as resistance then we will likely soon see a break below the 50dma, currently at 6565 and which held as support last week.
If we see that break down then the topping patterns I was looking at in my post on Friday will start to break down and may well then make the targets that I was looking at.
(more…)Tech Tock
The stock market is like a bomb waiting to go off that never does. Or a messiah that never comes. Take your pick. The /NQ, in that spirit, has done nothing but climb since midnight on Thursday. The only hope for the bears at this point is a string of earnings shocks. I wouldn’t hold your breath.
