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.

Three Stocks Ahead of Earnings

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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.

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Financial Hazard

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I’d say the biggest risk for the two or three bears left on Earth right now is the financials, shown below in the form of XLF. Notice that horizontal I’ve emphasized at the 27.33 price level. We’ve got a clean IHS below it, and should we cross 27.33 to the upside, that sets up the pattern to pierce the descending trendline (yellow tint), at which point it would be like a 42-gallon drum of gasoline on the bullish fire.

Bad Enough

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To expound upon my “bullet entering the brain” post from last night, let’s just go whole hog. Let us assume:

  • The federal government has now perfected utter control of equities;
  • They have absolutely no reason to ever let them decrease;
  • It will be months, years, or decades, before they lose control.

Having embraced those chilling assumptions, here are the measured moves for the cash indexes shown, represented in both point and percentage terms. These measured moves are based on the inverted head and shoulders pattern, all of which are complete except for the Russell 2000. Please note that the percentage gains are measured from the neckline, not from present price levels.

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