Another pillar of this fake market is giving way.
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.
As I’m thumbing through charts, I’m amazed how many “private bear markets” are going on with big equities. Overstock, Baidu, Pier One – – companies that are seeing 70%, 80%, and even 90% drops in recent history.
The drops aren’t quite as dramatic in the stocks below, but they have terribly interesting setups. Here’s Apple with its horizontals and price gaps.(more…)
The emerging markets (represented by symbol EEM) has been in an ascending channel since last October. It broke the lower bound of this uptrend this morning for the first time.
This is the last meaningful week for earnings this quarter. Tonight’s biggie is Alphabet (GOOGL), but I always find that chart to be a bore. Tomorrow night is more interesting to me, as Apple, Inc. is coming up upon very important resistance, highlighted below. We’ve also just about at the midline of that long-term channel.
These three health and technology stocks are seeing technical strength ahead of upcoming earnings.
Evolus, Inc. (EOLS) gained 50 cents to $26.44 on 537,100 shares Wednesday. The performance beauty company said it will release earnings after the close on April 30. The stock is right on the verge of taking out the declining tops line of its nearly 3-month consolidation that followed its big surge in January and early February. A move through the March 19 high near $28 could take the stock to next lateral resistance at $30.
Extreme Networks, Inc. (EXTR) rose 29 cents to $8.26 on 2.1 million shares Wednesday, nearly 1 1/2 times its average volume. The software-driven networking company will announce earnings before market open on May 1. The move popped the stock out of a nearly 2-month resistance line and mini base. Watch for a test of next resistance at $8.75 just above the February high.
The ETF for the consumer discretionary sector broke its trendline ages ago, but as of yesterday, it perfectly tagged the underside of the now-broken trendline and should treat it as resistance henceforth.
For over half a year, the emerging markets have been following a relatively steady ascending channel. About a week ago, they got close to the top of the channel, and they’ve started seeing some meaningful weakness.(more…)