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.
The Merriam-Webster dictionary defines a Baby Boomer as a member of the generation born between 1946 and 1964. If the average age of Baby Boomers is 65 years, then 1953 would be an important year for them. A lot of stuff happened that year, including the end of the Korean War.
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Read more at ThePeopleHistory.com |
The price of WTIC Crude Oil (CL) continues to churn in a tight sideways consolidation range as markets and world leaders digest Israel’s latest release of information regarding Iran’s nuclear program.
As shown on the following daily chart of CL, it’s still in uptrend on this timeframe, and this latest consolidation zone (green zone) may be a “bull flag” formation…suggesting higher prices ahead. (more…)
The monthly chart below of the South Korea ETF (EWY) shows January’s breakout to new all-time highs, followed by a brief pullback and rally back to close above its prior record high of 75.05 in March (now near-term support). Price is cautiously extending these gains, so far this month, while experiencing quite a bit of whipsaw movement on a daily basis.
It’s also sitting just above the bottom of a long-term uptrending Andrew’s Pitchfork channel around the 70.00 level (major support). Its next major support level is around 60.00 on this timeframe.
Both the momentum and rate-of-change indicators have been waning since last October, but remain above zero. A drop and hold below zero, as well as price drop below 70.00, could see price retest 60.00, or lower. (more…)
Like a tightly-coiled spring, Major US Indices and Sectors remain trapped in tight consolidation zones, so far, this year, as shown on the following daily charts.
What’s remarkable is that the swings on their rate-of-change indicators (with an input value of 1 day) have been getting smaller and smaller…hinting that markets may explode in one direction or the other at some point.
As yet, the catalyst to drive such a move remains a mystery. Perhaps more will be revealed next Wednesday (May 2) when the Fed’s interest rate decision is announced, along with any new forward-guidance revelations. (more…)
I last wrote about the SPX, 10YT and SPX:VIX ratio here.
After this morning’s (Thursday’s) gap up, and as at 1:00 pm ET, the S&P 500 Index (SPX) has popped back above its 2650 major resistance/support level, as shown on the following daily chart.
It’s back in the red zone in between 2700 and 2650, which form major resistance and support, respectively. Near-term resistance levels are 2673 and 2692 (formed by intersecting channel lines).
The momentum indicator is still below zero, so any further rally should bring it back above that level to support further SPX strength. Otherwise, beware of a potential “dead-cat bounce“ as price either stays mired in the red zone, or drops back below 2650, to, possibly, lower lows for the year. (more…)
