As you know, the stock market closed at lifetime highs on Friday. The Dow 30 Industrials? Never higher. The NASDAQ 100? Same. And the S&P 500 as well. The thing is, lifetime highs tend to beget new lifetime highs.
Lifetime Highs!
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.
Tesla’s Ennui
Tesla has morphed from the world’s most exciting stock to something that more closely resembles a passbook savings account. Indeed, from June 8 2023 through January 8 2024, a period of seven months, the stock changed…….ZERO. I would like to suggest the analog below, which indicates that the price is going to continue to meander lower for weeks to come.
From Soup to Poop
Below is a chart of Alphabet (symbol GOOGL) which has a rather interesting analog with what it was doing two years ago. Both now, and then, the stock had broken a trendline (drawn in each case in red, and which are roughly parallel with one another) and had bounced to the underside, only to be followed by a lot more weakness. GOOGL is, as you know, one of the Mag-7 stocks, and if this weakens, it will poison the entire equity market.
Now & Then Analog
Here’s a fun item I stumbled upon while thumbing through charts this weekend. Take a look at the daily SPY chart below, which is from late in 2021 into early 2022.
