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.
Retesting The Upper Band
This is likely my only post this week, as I was wiped out by food poisoning on Sunday night, and while I’m feeling much recovered, my total food consumption so far this week is one hard boiled egg, a tortilla wrap, some houmous to go with the wrap and half a cookie, which is slim pickings. I’m cautiously considering possible menu items for today.
On to the markets though, and the H&S setup I was looking at yesterday morning in my premarket video at theartofchart.net I posted on my twitter failed and on the break over the right shoulder retested the rally high as expected (after the fail) and went a bit higher. So where does that leave SPX now?
(more…)Red Paint
Good morning, everyone. Wow, is it black outside. I guess the days are already getting shorter, which I like. Typing in a dark office with a totally black exterior gives me the warm, fuzzy feeling that I’ve nailed the “early to rise” thing that Mr. Franklin told us about.
Anyway, it’s good to start off what could be a very tough day with some good news, and that comes in the form of a paint can. Specifically, Sherwin Williams. Back on June 15th, I did a premium post pointing out the head and shoulders pattern on this fabled paint maker (symbol SHW). Regrettably, in spite of the quality of the pattern, SHW Is not immune to the market in general, and the enormous rise in stocks starting June 15th spoiled the idea and I promptly got out at a loss.
The top stay intact, however, and about a week ago I re-entered my SHW puts. The earnings came out this morning, and as the news indicates, they were a big miss.
There Goes Support
Fallow Tesla
The three solid months, Tesla has been stuck in a wide range of prices from $620 to $845, and we’re very near the top of it now. I strongly suspect it’s out of gas at this point, due to the mountain of overhead supply.
