The broken trendline is perhaps more powerful than the Fibonacci range at this point. Keep in mind the context – – the market is at LIFETIME HIGHS, and this is all Tesla can muster.
Maybe The Trendline Wins
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.
Graph Chat
Here’s an octet of charts and some words – – by me – – about each of them.
First is the Real Estate fund IYR which has broken its Fib support and looks prone to slipping down to the next Fib beneath.
My Faithful Servant
With all the trauma and awfulness foisted upon bears, there is one tried and true financial instrument which has never left our side: the Dow Utilities. Here, in the guise of XLU, I presented this symphony of sinewaves:
Foil Ripped
Long-time bearish favorite Alcoa (AA) is getting nuked this morning, down almost 9%, even in this comically fake, Fed-support joke of a market.
Likely Retracement Coming Soon
I’m expecting to see a retracement of the move up from the October lows start soon, and there are some targets I wanted to see made on equity indices before that happened. The last two of those were made on Friday.
The first of those was a retest of the all time high on NDX, and we saw a new high there on Friday, with a very nice looking overall rising wedges from both the 2022 low and the October 2023 low. This looks ready to turn soon.
NDX daily BBs chart:
