I offer you the following two charts, each of which have supremely important Fibonacci retracements drawn on them (the red horizontal lines). There is the S&P 500 futures:
Oh, Come ON!
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.
Thisla and Thatla
Tesla has, in just a few weeks, gone up almost 100% in price. When it was at $102, I was very uneasy suggesting that the next important target was just above $200, but by God, we’re awfully close. Just as my “just under $100” target was ALMOST met, perhaps my “just over $200” will also ALMOST be met. Good enough for government work.
When Does This End?
On a scale of 1 to 10, my trading confidence is hovering at about a 1.1 at the moment. Starting on January 6th (and, in a broader sense, last October 13th), this market has been absolutely sadistic to equity bears. So when does it all end? The monster earnings after Thursday’s close? The jobs report Friday morning?
I dunno. What I do feel confident of, however, is that the one screaming signal I’m waiting for is for TSLA to have the digit “2” at the start of its stock price. Assuming that happens, which will represent a 100% price increase in a period just weeks (!!!!!!!!!!) I will be vastly more comfortable deploying my cash.
Double Trouble on Diamond Island
Within Range
Yep, we’re going to talk about Tesla again. Why? Two reasons. One, I’ve found that financial instruments are like people – – you get along well with some, and not-so-well with others. My experiences has shown me I get along with Tesla. I tend to understand it. The second reason is that I believe Tesla’s behavior is enormously influential to the psyche of the entire stock market. Now that we’re past the TSLA earnings report, we can consider this effect, which at the moment is very positive.
