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.
WBC is up 19.3% since we first highlighted it in our Feb 3 post!
Here is an updated shorter term chart projecting the rest of (5) of iii and then iv-v of 1 of the larger III. The wave 2 of III could easily cut WBC in half from the 180-210 projection for v of 1.
Johnson Controls Inc. (JCI) has strong potential for significant upside as well as an excellent story of strong fiscal management and innovation. From a technical side there are two competitors of JCI’s that I also think have excellent chart setups: WABCO Holdings Inc. (WBC) and Rockwell Automation Inc. (ROK).
It is very interesting that while WBC and ROK are competitors in two different core areas of JCI’s business — auto parts vs. building automation, respectively — the two competitors have remarkably similar charts to each other, and also to that of JCI. All three have strong setups off the October 2014 lows for immediate upside, in addition to longer term bullishness.
On Wednesday night I noted: “The bounce this morning is most likely a corrective bounce in an a-wave, which still needs a c-wave higher to complete the red (b) wave. So, unless I see something different into tomorrow, I am expecting the market to resolve this pattern lower over the next week. Hopefully, it can also break the cited support to make it more clear that the larger degree correction is upon us.” (more…)
Amazon (AMZN) hit my initial target of 353 for wave iii of the larger diagonal to be complete, but on a smaller scale it has room to extend a little more from the 350s to hit the trend line now floating between 375-380 through next week. (more…)
With the market invalidating further downside with the move over 1642ES overnight, it opened the door to this move higher. However, we are still potentially on track for an ideal 5 wave structure to the downside, with this being a wave iv rise, in an a-b-c fashion. (more…)
