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.

Chart on Shanghai Composite (by Mike Paulenoff)

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After making new corrective lows in a press towards a possible 6th consecutive down day, the China Shanghai Composite reversed to close higher today.

So far today the iShares China Equity Index ETF (FXI) is up 70 cents, or 1.6%, from yesterday's close at 42.19, and even more from yesterday's intraday low (and violation of its 200 DMA) at 41.91.

The ability of both these China indices to hold today's gains is imperative to their near AND intermediate term outlooks. The SH Comp must exhibit follow-through strength that sustains back above the declining 200 DMA, now at 2780, to trigger initial confirmation that the corrective process is complete.

So far the Nov-Dec correction has held above the Sept upside breakout plateau at 2705-2690, which represents very important support. As long as 2705-2690 contains any additional weakness, my overall technical work in the SH Comp will remain positive.

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Originally published on MPTrader.com.

Big-Picture Pattern Still Bullish for China ETF

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From a big picture weekly chart perspective, the series of higher lows and higher highs off of the October 2008 bear market low at 19.35 is the dominant pattern that underpins the iShares FTSE/China 25 Equity Index (NYSE: FXI) right now. As long as the major up trendline from October 2008 to the present (26 months) remains intact, now at 42.00/05, we will be looking for another loop to the upside towards 49.00-50.00 next.

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Originally published on MPTrader.com.

Trade of the Day: MNKD (by TraderHR)

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MannKind Corp. (MNKD) is our TraderHR Free Stock Pick for Friday December 10.  It gained 50 cents, or 7.45%, Thursday on double-than-average volume, closing at $7.21, the highest close since March 2010. The stock is trying to break strong resistance around the 7.20 area.

Another indication of a possible trend reversal is the double-bottom pattern, with MNKD reaching a bottom in May at 4.76 and again in November at 5.07. If current momentum continues MNKD could reach its next resistance level around the 8.10-8.50 area. Preferred entry (buy stop) price is 7.35, with a stop loss at 6.80.

 

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Originally published on TraderHR.com.