It’s too late to really profit from it, but I wanted to share this chart of Vanda Pharmaceuticals (VNDA) since it is sporting such a beautiful head and shoulders top. It certainly seems to be doing its job in the aftermath.
Vanda H&S
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.
A One-Two Warning
The collapse of Upstart Holdings is an interesting example of two chart phenomenon. First there is the gargantuan and well-formed head and shoulders top, highlighted in yellow. Second, following the plunge after the top was formed, was the powerful retracement up to the neckline (whose peak is marked with the arrow). This was a nearly perfect gap-close, and it’s been in a free-fall ever since. Quite the ride!
So About Nvidia……..
As maddening as Nvidia (NVDA) has been in recent days, there’s still a chance this top could complete without becoming a complete mess. Staying below the level highlighted (476.09) below is crucial:
Secret Tops
I thumbed through the tagged items in my Core watch list which have enticing tops but haven’t quite made the “Bear Pen” cut since they are relatively thinly-traded. It’s still worth an examination, however, because there may be some real gems in here for you:
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The Latest Line Levels
As the market continues to rage higher, demolishing any remaining bears, I took a tour through my 30-symbol ETF list and plucked out the 11 which seemed worth sharing. In each of these, I have highlighted what I consider to be the appropriate stop-loss (AKA bears-are-even-more-screwed) levels. As usual, click on any of these for a screen-filling version so you can see the number clearly.
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