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.
I last wrote about the Fed Monetary Stimulus Program “Canaries” in my post of February 6, 2013. As a reminder, I chose six of of them (ETFs) in order to determine their relative strength/weakness against their respective Stock Market Index, since they may have held clues for further accumulation of riskier assets due to respective Central Bank stimulus programs.
So that we can compare their current relative strength/weakness, I’ve provided the following 3-Year Daily ratio charts for each “Canary.”
XLF:SPX ~ U.S. Financials ETF has, basically, traded lock-step with the SPX since my last post. A recent breakout has brought price back to re-test this breakout level. We’ll need to see 0.0120 held if XLF is going to resume an outperformance of the SPX. (more…)
The USD has been under accumulation since May of this year when it bounced around 3-year major support from late October 2013, as shown on the following Daily chart.
With daily whip-saw action that began in November, we’ve seen the RSI come off its highs, but remains above the 50.00 level. The MACD and Stochastics indicators have also been sliding. These are suggesting that we may see either a slowing in buying of USD, or a rotation into other world currencies.
Within the last 90 days there has been more convoluted messaging coming from the financial media, the main stream, as well as academia than I can remember. The more one looks or tries to find relevant, useful, actionable insights – the more they get conjecture.
Tag onto this the obligatory covering of arses as one’s told “It’s a great time to buy stocks!” Followed with “It will probably end badly.” Or, that other gem for the legend books “The Fed’s got your back” analogy.
So prevalent are these today it makes a politician marvel in its usage for audacity or speciousness. And that’s saying something in my book.
Let’s take a few examples that really give the tenor and tone of what I’m trying to express. They are far from the only ones, yet they give what I believe are true representations on why people are not only confused, but why they’ve walked away from both the markets as well as other activities in ways that have all the supposed “experts” flummoxed. (more…)
I last wrote about Canada’s TSX Index in my post of October 10th.
The 3-Year Daily chart below shows that, since then, price bounced shortly thereafter to re-test the bearish moving average Death-Cross formation, then plunged to re-test the October low around the 13,650 level. A break and hold below this level could send this index down to its next major support around 13,000, particularly if volumes continue to build, as they have, of late.
As of today (Tuesday), the TSX is bouncing on a diverging (positive) RSI signal, but a buy signal is not being confirmed, yet, by the MACD and Stochastics indicators. As well, until the RSI rises and holds above the 50.00 level, the buying may be short-lived. (more…)