This descending trendline has been reliable resistance ever since the lifetime high on the Dow 20 long ago.
Dow Transports at Resistance
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.
ADM and its H&S
This is just a good example of a classic pattern in action. The tinted area below could be considered either a right triangle top or, my preference, a head and shoulders top. Archer Daniels Midland (ADM) is presently in a freefall; something about its CFO doing something naughty or something.
Lifetime Highs!
As you know, the stock market closed at lifetime highs on Friday. The Dow 30 Industrials? Never higher. The NASDAQ 100? Same. And the S&P 500 as well. The thing is, lifetime highs tend to beget new lifetime highs.
Pregnant with Anticipation
For nine months, I have been prattling on about the incredible diamond pattern on the Dow Jones Utilities ($UTIL). All I can say is that its performance has been pitch-perfect, and I am counting on this sucker to drag the entire financial world down with it, once they wake up.
Bombs away!
Spot the H&S Top!
