Between cancer treatments (for my wife) and some serious IT issues I didn’t manage a post last week, and have a bit of a conundrum this week as the post I’d ideally like to have published today would have involved too many charts and and an likely indigestibly large quantity of numbers for a single post. I’ve given this some thought and have decided to do three posts this week. The first one today will look at short term prospects for the market and the implications of the weekly candle last week coming off the weekly upper band ride that has likely just ended.
(more…)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.
Bud Light
Many months ago, I would often feature Budweiser (symbol BUD – – ha, ha.) as a short, since it had a gargantuan head and shoulders pattern. Well, that pattern played out beautifully, but I wanted to point out it has formed a new, lower, but still quite clean version of the same pattern.
Swing Trades
Another Week, Another Inflection Point
Apologies for the lack of a post last week. Some of you know my wife has some health issues at the moment and they have me distracted. I’m doing this post tonight because SPX is at a key inflection point and because the way this breaks may deliver the direction for the rest of January.
Before I start I have a quick announcement. We (theartofchart.net) have launched a new options service run by an old friend of the site Paul Frey. This is an educational service looking at options trade opportunities in real time run by a thirty year veteran of options trading. If your interested you can read about the service and access the free trial here.
(more…)Hand Me That Cup! (by Ryan Avril)
Thanks to TK’s posts about the “Unicorn Stocks” starting to gain in volume and price, I noticed that many of these newer stocks are starting to make bottoming formations. This lead to me to look through my watchlist for other basing patterns, in particular, the cup with handle formation.
Some of these stocks have fallen due to earnings, some may be due to Trade War fears. Now they appear to be bouncing back. Most of these patterns still need to complete the base, and form the “handle” if there will be one. Either way, here is the list of stocks with the patterns drawn in, all forming over varying time scales.
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