Peak Elon Bar
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.
Another Inflection Point Here
In my post on Wednesday I was looking at the H&S patterns that had broken down on SPX, QQQ and DIA and saying that, for a variety of reasons I explained then, I didn’t think any of those H&S patterns were likely to reach their targets, and would likely instead fail into retests of their all time highs. Since then we have seen the start of rally I expected and equity indices have reached another inflection point where they can either break up towards retests of the all time highs, or fail down into those H&S targets.
On DIA the H&S failed this morning on the break back over the H&S right shoulder, and that now has a target at a retest of the all time high, but the big dogs here are SPX and QQQ, so I’ll mainly be looking at those today.
(more…)Launch Achieved!
Well, it’s finally done. SpaceX is trading, up about 20% at the moment. I dumped my entire position right from the get-go. Enjoy the ride, everyone. Now we can all get back to work.
Golden Triangle
Precious metals rallied strong yesterday based on the news that we beat Iran for the 39th time in the past couple of months. We are very close to a price gap, which, given the huge right triangle top, could be a good entry point for new shorts.
Other Rockets Blowing Up
SpaceX isn’t even trading yet, but all the other rocket companies that have been trading like crazy for months merely because SpaceX didn’t exist (and served as a proxy for satisfying Elon-boners) are puking.
