Below is symbol XLP, the fund for the Consumer Staples sector.
Yet Another H&S Top
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.
Pre-J.P. T.P.
The best-formed pattern (and pretty much the only decent pattern) on the equity futures right now is the Russell 2000, which has an exceptional head and shoulders top. I am tempted to short this sucker, but it seems like a Siren song to me. In other words, almost too good to be true, and luring me in to trap me. That’s a silly thought, perhaps, because this is honestly a fantastic pattern.
Channel Failure for AI
The ridiculous ChatGPT fad is rapidly fading in the rearview mirror, and we’re seeing the stocks which benefited from this baseless mania diminish as well. The eponymous leader of this is, naturally, ticker symbol AI, whose channel failure suggests a fundamental change in direction for months to come.
Putting a Stake in the Ground
Let’s get serious about the semiconductor index. This beast has a perfectly good chance of completing a relatively small but spectacularly well-formed head & shoulders top. Indeed, it would take only one good down day, no more dazzling than Friday’s, to get the job done. I would like to offer unto you my target for such a measured move, tinted in green:
PREMIUM: Ya Moran!
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