This is a good example of the importance of a pattern following through. Birkenstock (BIRK) formed a nice base and broke out, but it sank back into the pattern the same day.
Since then: total dud.
Patchouli-Scented Shoes
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.
Bust and Boom
Below are two very different projects. The first, Tesla, is a stock I think is in horrendous trouble. Over the course of 2024, I believe it is at risk of moving into that yellow zone, revisiting the range of 2022.
Bottom Line
In my review of the index charts last night, it was clear that Tuesday’s lows had accomplished only one thing: to verify the importance of the supporting trendlines. In chart after chart, support was challenged and held.
S&P 100 Channel
Could this be the start of something bigger?
A Pair of Diamonds
Just wanted to follow up on these two charts, which I had pointed out weeks earlier as bearish-looking diamond patterns. Nice to see them work out, finally!
