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.
As can be seen on this S&P Sector Summary, the U.S. Financials sector finished in second place on Monday.
The Daily chartgrid below shows these sectors, along with the S&P 500 Index. As can be seen, price is trading around either the 50 sma (red) or the 200 sma (pink).
Firstly, I apologize for my lengthy post…but as I know you're such a nice group, perhaps you'll grant me this indulgence and bear with me!
Further to my last weekly market update, here is a summary of where money flow ended for Week 2 of April 2012.
The Weekly charts below of YM, ES, NQ & TF show that they all closed lower than the prior week, following last week's bearish engulfing candle. The ES has now joined the YM & TF in closing below its uptrending channel from the 2011 lows, while the NQ is still above the channel.
Further to my post of April 10th, there was a small overnight bounce today in YM, ES, NQ & TF, but no real advance during market hours, as shown on the 4-Hour charts below. Price remains below an immediate sharp downtrend line for now and is, therefore, still subject to further downside pressure until it's broken (with confidence) and held as new support (which is basically at today's high).
Further to my post of April 9th, Toronto's TSX Index closed below major support of 12000 today, as shown on the Daily chart below. All of 2012 gains (and some of 2011) have been erased after prices peaked in February. Price is, once again, back down at bear market levels seen immediately after S&P's downgraded the U.S. credit rating in August of 2011.
Furthermore, as shown on the graph below, the TSX has lost 16.26% from its March 2011 highs…also interesting to note is that Copper has lost 18.64% during this time, as well, and is well below that post-August 2011 credit rating downgrade level…note today's 3-year high volume spike on the Daily chart of Copper below…ones to watch.
Further to my post of February 27th, below are a series of 3-Year Weekly charts of the Emerging Markets ETF (EEM), and the stock market indices of the BRIC countries (Brazil, Russia, India, and China).
All of them are under the influence of Weekly sell signals on the RSI, MACD, and Stochastics indicators, none of which are showing signs of a reversal.
EEM is sitting just above a major support level of 42.00, Brazil is in between major resistance and support (67,500 and 60,000), Russia is just below major resistance of 1700, India is below major resistance of 19,000, and China is, once again, below major resistance of 2300.
They all appear to be forming large topping patterns on this 3-Year timeframe and are worth watching over the next weeks…particularly China, which is the weakest…and in view of building volatility in the Foreign ETFs, as noted in my post of March 22nd.
