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.

Mexico City Shaken in 7.1 Earthquake as Tepid Rally in Mexican Index Hangs in Jeopardy

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Notwithstanding a rally in the Mexican Bolsa IPC Stock Index since it broke above a large, lengthy consolidation zone in mid-2016, only to retest that break at the end of the year, then rise (tepidly) to is current price of 50,265, the momentum and rate of change technical indicators have been flat since January 2013, as shown on the following Monthly chart.

The Weekly chart below also shows renewed weakening momentum and rate of change since the beginning of 2016, in spite of this attempted rally breakout.

Near-term major support sits at 45,000…medium-term at 40,000…and longer-term support at 30,000. These are important levels in the face of a new 7.1 major earthquake that struck today near Mexico City, as reported below (the death toll continues to mount as the day wears on), especially since the rally above its congestion zone has been weak. (more…)

World Markets Nearing Exhaustion?

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I last wrote about the World Market Index on August 30.

Since then, price did retest (and break above) the 1950 major resistance level to make a new three-year high, as shown on the Daily chart below. It closed just above that level on Friday.

Notwithstanding this year’s push higher (once it broke above above the prior year’s congestion zone), the RSI, MACD, and PMO technical indicators have failed to make a series of higher swing highs since mid-May…suggesting that market enthusiasm is waning in world markets, in general.

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Technology and Healthcare are the Big Winners of 2017

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It’s all about the Technology and Healthcare sectors this year, in terms of gains made, so far, as shown on the following 1-year charts and year-to-date graphs of the Major Indices and 9 Major Sectors.

The laggard, Energy, may be poised for a recovery, if it can hold above its downtrending 50-day moving average.

The Materials sector is on the verge of new breakout. Keep an eye on GOLD and Gold Miners ETF, as I’ve recently described here and here.

The Russell 2000 Index is still mired in a large-scale sideways consolidation zone. Watch for any breakout (and sustained hold) above this zone as a potential signal of renewed and serious riskier asset-buying in the markets, in general. (more…)