I have stated numerous times that SPCX is rangebound between 104 and 150. Well, true to form, this fellow is retreating. It could be months before it breaks out.
SpaceX Range Holding
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.
Bye-Bye, Baidu!
Wow, here’s another one that got away from me. I pointed out the beautiful H&S top in Baidu (BIDU) long ago. It took a little time, but it just came through in a big way.
Still A Tale of Two Markets
In my last post on Tuesday 4th August I was looking at the ambiguous setup on US indices and the Nikkei after the strong rally into the beginning of August, noting the three good quality topping patterns that were still intact on the Philadelphia Semiconductor Index (SOX), QQQ and Nikkei.
I also noted that SPX was close to the daily 3sd upper band and said that I was looking for a short-term consolidation of a week or so to allow time for the daily middle bands to go higher, and for the daily outer bands to expand, opening up further possible upside. We have since seen that consolidation, the daily middle bands have turned up and the outer bands have expanded.
(more…)The Unclean
Below is the $SOX semiconductor index as of a few weeks ago. It was gorgeous. Amazing. Shortable. Just itching to crumble. That’s why I wouldn’t shut up about it.
Watch This Line
I’m delighted to see some honest-to-God selling take place in the market for the first time in seventy-three years. Keep a close eye on the /NQ, since there’s a key trendline where at right as I’m typing this.
