Bulls…….must……….hold…………Fibonacci……….
Major Support Here
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.
3232 versus 3838
Well THIS is fascinating, and I only stumbled upon it this weekend. Please take note of the Fibonacci Retracement Levels spanning the bottom of the financial crisis all the way up to the lifetime high this year. Keep in mind this is an enormous span, lasting fourteen years.
Our Friend Returns
There probably hasn’t been any symbol mentioned more often on Slope over the past year than IYR, the real estate fund. This morning, we got closer to the major Fibonacci retracement (91.64) than we’ve been in months. The yellow tinted area is, to my mind, a tremendous top.
What Might Have Been (by Xerxes)
The phrase for this title is usually reserved for pleasant memories and daydreaming of events one wants to happen, but I am using it as more of a relief for something which has not happened. I was concerned with the pattern we have been putting in the past two days in SPX. I posted this picture earlier today, but I am posting it again as a reminder:
Tesla Guess
Psychologically, I think the most important earnings report after today’s close will be Tesla (TSLA). I have no position in this (except inasmuch as my beloved son has a gazillion options), but my dumb guess is that it’ll go up, based on its relationship to its Fibonacci level and the fact that this price level has been good support for months. If I’m wrong, look out below, because there’s zilch holding this thing up. But honestly, I’d be stunned if that happened. We shall soon see, and I’ll update this post accordingly.
