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 filter I like to use is when the 20EMA falls below the 50. Today three diverse candidates from my Hard Asset list interest me. They are; DO, EC, and CSIQ. The 20 is my stop if I am wrong. For me, I will probably sell call spreads on these, as it is close to OPEX and I have high cash and margin levels from scaling out over the last week. I will see what the morning brings.
A comparison of the daily charts of the Shanghai Composite and the S&P 500 shows that each index turned up on Nov 29-30. The Shanghai turned up after a 50% correction of its Jul-Nov advance, and off of its 200 DMA at 2703, while the SPX turned up from its sharply rising 50 DMA after a 30% correction. Both indices are acting very "technical" into year end.
My proxy for the participation in the China equity market (Shanghai Composite) is the iShares FTSE/Xinhua China 25 Index (FXI) for the time being. The technical set-up in the FXI coupled with the very constructive intermediate term chart pattern in the Shanghai Composite argue strongly that the China equity index is on the verge of pivoting to the upside into another powerful upleg off of its July low.
If my work proves accurate, the FXI is emerging out of weakness (from last Thursday's peak at 45.18 to Monday's low at 43.67) and approaching a new upleg that should hurdle 45.18 on the way to the 47.50 vicinity. Below is a chart on the FXI from yesterday that we posted for our subscribers before the start of the up move.
Originally published on MPTrader.com.
The biggest percentage gainer among the ETFs I follow today is the triple-bearish-on-bonds shown below.