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.

Japanese Reversal

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I’m about to toddle off to bed, but before I do, I wanted to mention what I see going on tonight with after-hours markets. Asia was apparently on fire, roaring skyward (for no apparent reason – – bulls haven’t needed one for years). However, that seems to have reversed, and (as of this moment anyway) the ES and NQ have turned into my favorite color, and the Nikkei looks like this:

1108-nkd

Of course, who knows what it’ll be like when I wake up. Anyway, good night, Slopers!

UPDATE: Well, I’m up, and miracle of miracles, the selloff actually stuck. The NQ was down about 50 points when I woke up. So now we shall see if, for the 3,879th time in a row, the bulls simply bid things up again or if they actually suffer a tiny, tiny bit.

1109-nkd

Spain’s Ibex 35 Index Mired in Long-Term Congestion Zone

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In the midst of political and social uncertainty surrounding the recent referendum in Catalonia to separate from the rest of Spain and Prime Minister Rajoy’s aim to stop it, Spain’s Ibex 35 Index has been faltering, as shown on both the longer-term Monthly chart and the short-term Daily chart below.

Longer term, price ran into major resistance in the form of a downtrend line and a 50% Fib retracement level. It’s currently hovering above the 40% Fib level. So far, neither the Momentum nor the ROC indicators are showing that higher prices are in store for this index on this timeframe.

Shorter term, a bearish moving average Death Cross has formed and price closed just below both of them on Friday. So far, the RSI, MACD and PMO indicators are not hinting of higher prices to come any time soon.

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