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.

Canada’s TSX Index and Canadian Dollar Roller-Coaster Ride

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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…)

Capitulation or Continued Weakness Ahead?

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Most markets closed deep in the red today (Monday)…including Major World Indices, equities, commodities, and non-U.S. currencies.

We’ll see if today’s action represents any kind of major capitulation or whether it’s a renewed sell-off in all markets…we may gain further insights from market reaction following this Wednesday’s FOMC meeting, economic forecasts, and Chair press conference. (more…)

$93.00 in the Cards for the U.S. Dollar?

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$93.00 is the next major resistance level (Fibonacci confluence) for the U.S. $, as shown on the Weekly chart below.

The RSI is showing a negative divergence on this latest advance, and other indicators are overbought; however, Chaikin Money Flow is on the rise again, so the buying may not be over just yet.

$89.00 is the near-term resistance level that will need to be overcome and held to support a potential advance to the next level.

SPX Cliff-Hanger

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I last wrote about the SPX in my post of December 3rd.

Here’s a Daily chart of the most recent market action on the SPX as of Friday’s close. Price ended around the near-term support level of 2000. You will note that this level sits at a confluence of price and channel support, which has been broken on the last major swing down, during which, the Momentum indicator made a lower low. I’d say that if price re-tests the 1800 level and fails to hold, we could be looking at a possible major decline ensuing, especially if the Momentum indicator makes a lower swing low. Whether we see such a scenario happening before the end of the year remains to be seen…perhaps not until January. (more…)

Bubblicious!

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We’ll see whether my summary outlined in my post of January 2nd, 2014 manifests by the end of this year or not…

           “This year may be the Year-of-the-Bubble for the Nikkei,  the Yen, and the Nasdaq…time will tell  whether this happens, and we’ll see the extent of any damage.”

From the following 3-Year Daily charts of the Nikkei, the Yen, and the Nasdaq 100, their existing long-term trends are not being confirmed by their respective indicators…suggesting a possible reversal in the cards. If we do get a reversal, the question is whether these are in bubble yet…if so, how far will they reverse? (more…)