Data released in post-market hours tonight shows a big drop (which has dipped into negative territory) from the prior month's release, in foreign direct investment in China, as shown on the graph below.
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.
In total, from the October 2011 lows, the Russell 2000 Index has led the Dow 30, S&P 500, and Nasdaq 100 indices higher in terms of percentages gained to date, as shown on the percentage comparison chart below.
Originally published on TheTechTrader.com.
Since I rarely travel, I don't have much experience planning ahead for my trips. Such was the case last Sunday evening, because as I headed toward the entrance of the airplane, I realized I didn't have a single bit of reading material.
I don't do well without something to read. I'm not going to watch a movie, and God knows I'm not going to spend four hours reading the in-flight magazine. My panic subsided when I saw the "Wi-Fi On Board" sticker on the outside of the jet. I was saved by Go-Go Wireless.
When heading home the next evening, as I headed toward my gate, I stopped myself and turned around to go to the book shop, because I wanted to make sure I had something interesting to read if the plane didn't have WiFi (which, it turned out, it did not).
Most airport book stores are crammed with the very latest business books which promise to make you a better worker at whatever job you've got, guaranteeing you a much bigger salary. ("Good to Great", "Emotional Equations", "Entreleadership", "Switch", and a myriad of other worthless drivel). I was heartened to see Michael Lewis' Boomerang, which is something I knew would interest me. So that's what I bought.
It is interesting that into the Valentines Day recovery rally high at 193.57, which peaked just shy of fully testing a significant resistance line at 195.00 (at the time), Amazon (AMZN) pivoted to the downside and attracted the ire of a Wall Street research analyst (MS), who downgraded the stock to Equal Weight from Overweight.
Be that as it may, from a technical perspective, let's notice that the sharp decline nonetheless has not violated the lower zone of the 8-week base pattern, in the vicinity of 172.00 to 168.00, at least not so far. Thus, the acute weakness still must be considered another test of support within a still-developing base formation that remains very much intact.
That said, I do not yet have confirmation that the decline from 193.57 to 175.14 is a completed leg within the base. My micro pattern and momentum work suggest strongly that AMZN still has unfinished business on the downside that will retest the Feb 1 low at 172.00 prior to my expectation of a powerful upside reversal.