Some of you heard, I’m sure, about the craziness with LYFT earnings last night. In spite of that, LYFT is having a perfectly solid day, and it has even pushed past its price gap.
Supports, Lyfts, and Separates
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.
Salivate Good Times
Well, I was hoping for a rally, and I sure got a rally! I got out of my SPY, META, and QQQ puts yesterday, and this is one of those instances in which I can actually pat myself on the back. As we approach the opening bell, the majority of yesterday’s CPI drop is already gone!
Taking Stock
One thing I always like to see on SPX the day after I call a possible high area is a big gap down and I wish that happened every time. Alas it does not, but it was nice to see that happen this morning.
In terms of the trendlines I was looking at in my post yesterday morning, SPX went a bit higher and hit the shorter term resistance trendline that I thought might need a hit. There was a nice rejection there that followed through hard this morning.
SPX daily BBs chart:
The CPI Reaction
The big event before us is, of course, the CPI tomorrow, one hour before the opening bell. Back in late 2022 and most of 2023, each CPI was reliably a kick-off point for Yet Another Huge Rally. The most vicious one of all, naturally, was October 13, 2022, a date I will never, ever forget! Each of these red vertical lines marks the day of the CPI report, thanks to SlopeCharts‘ spiffy Event Marker feature.
Thank You, C-Suite!
Corporate insiders are dumping stock like mad to give everyone else a chance to make big gains.
