Canadian Pacific has come almost all the way back to a major price gap.
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.
Magna Island
Quite the reversal today in the market – – we were down hard early on, but as I’m typing this, the ES and NQ have both gone green ,and the ES has pushed above the level I mentioned this morning. One particularly stock that had an interesting twist this morning is Magna International (symbol MGA) which has an island reversal pattern.
Must…….Hold……..On….
In spite of the gargantuan rally on Thursday (the biggest rally on the S&P in over SEVEN MONTHS!) the tech stocks, bless ’em, haven’t ruined their bearish setups yet. It wouldn’t take much to do so, but I at least want to point out that, for now, we still have valid price gaps on the NASDAQ Composite:
Lieutenant Motors
I’d say the price gap closure is as good a signal as any to go bearish on this most-important-corporation-of-the-1950s.
Right About………NOW
This would be an exceptionally good place for the market to stop climbing. That price gap is one I’ve been watching a long time.
