Data released today (Friday) shows that unemployment rose from
7.8% to 7.9%, spoiling a two-month decline, as shown on the graph below.
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.
Channel Backtest Underway on the E-minis (by SB)
The YM, ES, NQ & TF are in the process of backtesting the
underside of their rising channel, as shown on the Daily charts
below.
The TF has already penetrated the channel and leads in strength
on this bounce over the past three days. The NQ closed just inside the channel
today (Thursday)…one to watch over the next few days to see if it can remain
in the channel. A failure to remain in the channel and follow through now on a
sustained and convincing bounce will cause me to assume that selling is not yet
finished in the short term.
Euro Area Unemployment Rises to 11.6% (by SB)
Data released today (Wednesday) shows that unemployment continues to rise
unabated in the Euro Area, and now sits at 11.6%, as shown on
the graph below. It's been rising since the lows in 2007 and is well above the
levels seen in January 2000. For details of the report, click here.
So far, the ECB's LTRO 1 & 2 programs have
not resolved the unemployment problem in the Euro Area…for that matter,
neither have the actions of the EU, to date.
Tuesday Update of E-Minis (by SB)
Best wishes, America, in your recovery in the wake of Hurricane Sandy! My
thoughts and prayers are with you.
Markets have been
closed since Monday due to the hurricane. Below is an update of the YM,
ES, NQ & TF e-mini futures indices, with the last two days
(comprised of Globex-hours trading only) signalling a potential reversal. We'll
need further clarification during full market-hours trading when that resumes (scheduled for Wednesday).
All four are now below their channels from the June lows, and any bounce may
only be testing the bottom of the channel before resuming a downward
trek.
Money Flow for October Week Four (by SB)
Further to my last weekly market update, this week's update will look
at:
- 6 Major Indices
- 9 Major Sectors
- 3 Ratio Charts of the SPX:VIX, RUT:RVX, and NDX:VXN
- A comparison of the SPX to other World Indices
6 Major Indices
All six Major Indices closed this past week lower,
as shown on the Weekly charts below.
