The right triangle pattern, coupled with the near-closure of a price gap, is making this an increasingly appealing bearish setup. It might have a bit more to go, since the gap for DLTR isn’t quite sealed up yet.
Dollar Tree Price Gap Almost Closed
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.
The Lyft Gap
Gaps are very interesting to me, although I’m not quite sure of their logic. LYFT, for instance, had a price gap from eons ago at $15.99. Yesterday the price leaked at $15.95 and is now backing off. I’d thus consider the price gap sufficiently sealed, following a doubling of price since May.
The Bond Gap Mattered
Interest-sensitive instruments have been on a rocket ship from October 23rd until this week. It looks like, at last, we discovered a point of resistance that actually mattered: the price gap I’ve highlighted below.
Sealed!
Well, that’s that. Both TBT and TLT have sealed their price gaps. It would be QUITE appreciated if that was the limit of the bond move, thank you very much. We shall soon see.
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Overseas Gap
Below is a chart over the past couple of years of IEFA, the worldwide equity fund (without including North America). Take note of that dashed line, which is at the price level 67.82. I would propose that, if we can stay below this price gap, this fund remains quite vulnerable to a renewed sell-off, since this is an important pivot point in the context of all this price action.
