If I had been provided these weekly charts last Friday to show what the S&P 500 and the NASDAQ were going to do during my vacation, I would have assumed things were going to be pretty bad.
Weak Week
Slope of Hope Blog Posts
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Tesla Toldya Two
It’s all about relativity. The fact that TSLA has been struggling when the rest of this stupid market has been raging higher is a huge “tell”……….
You-Turn
I’ve been noticing an interesting phenomenon this week, in which the equity futures are very strong before the opening bell, but the moment the cash market opens, the breakouts that should have taken place simply don’t. If I were a bull (pro tip: I’m not), I’d find this absolutely exasperating. The Russell 2000 futures is a perfect example of a breakout in full formation (green) which absolutely barfs when the bell rings (red).
ALB Faithful
One of the most consistent winners on the bear side has been our old pal Albermarle (symbol ALB) which just keeps pounding lower, in spite of the bull-virus that has infected the brain of humanity anew
This chart illustrates nicely how the “personality” of a stock is important, because in the past, ALB has shown its ability to actually drop quite a bit following a top. There are many stocks these days which have sensational tops yet, based on their reluctance to drop in prior, similar instances, don’t seem all that much at risk. I’d rather short something which has illustrated its ability to blow up in prior years.
Another Fantastic Week Bar
