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.
Good morning, Slopers. We’ve made it through a lot lately, and I’ve got to say, in the 37 years I’ve been starting at charts, I cannot remember ever seeing anything weird as the new pattern – – let’s call it Powell’s Middle Finger – – that happened yesterday. I suspect bull and bear alike are approaching today with a skosh of nerves.
One would figure the nation’s biggest pharmacy would be a safe, conservative investment. Nope. CVS has lost about HALF its value in just two years. From a charting perspective, it’s been behaving beautifully, because its breakout/support (blue line) turned into resistance (see red arrow), and now we’ve taken a hard fall to very long-term support (green trendline).
It has been a very good week for Tesla (TSLA), which was in the 130s on Monday and the 170s by Friday. In spite of that, I think the pop’s done, based on:
As a reminder, you can actually tilt drawn objects in SlopeCharts to any angle, as I have done here with the rectangle:
The biggest financial news of the day, on an individual stock basis at least, is the hundreds of billions of dollars of shareholder value that have vanished for META. As your resident chartist, what I find interesting is how powerful the lifetime trendline of META continues to be.
