Quite the past few days we’ve had, eh, boys? Here’s the FNGS, which tracks the FAANGS part of the tech stocks. I perceive this as a double top.
De-Fanged?
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.
Metals Gap Approaching
It’s been a fairly quiet morning so far, with my efforts mostly focused on staying engaged in a market in which by all rights I should lose all interest. Still, even a cursory glance at my trading rules would indicate that it’s precisely at times like these that are often the most opportunity-rich.
I’ll just share one particular chart for the moment, which is the metals and mining fund XME. It has a price gap at 114.50, and the closer we get to that gap, the more intriguing a short setup we have.
Four Days of Destruction
A mere four trading days ago, the indexes and ETFs looked poised to do a swan dive. And then, as they have so many times before, and based on no particular reason, they did a total 180 and completely wrecked their setups. Below are just a few examples of how perfectly good (excellent, actually) topping patterns were completely trashed with four days of destructive price gains.
