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.

Shanghai Index in Weak Rally as China’s Credit Rating Downgraded to A+

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The Shanghai Index has recently begun to rally, after remaining in a large sideways congestion zone since mid-2015, as shown on the following Daily chart.

It’s currently trading under the bullish influence of a moving average Golden Cross formation, with the RSI, MACD and PMO technical indicators making a corresponding higher swing high. However, the MACD and PMO have recently made a bearish crossover “SELL” signal…if the RSI drops and holds below the 50 level, we may see price drop and retest near-term support at 3250, or fall to, potentially 3000, or lower.

(more…)

Mexico City Shaken in 7.1 Earthquake as Tepid Rally in Mexican Index Hangs in Jeopardy

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Notwithstanding a rally in the Mexican Bolsa IPC Stock Index since it broke above a large, lengthy consolidation zone in mid-2016, only to retest that break at the end of the year, then rise (tepidly) to is current price of 50,265, the momentum and rate of change technical indicators have been flat since January 2013, as shown on the following Monthly chart.

The Weekly chart below also shows renewed weakening momentum and rate of change since the beginning of 2016, in spite of this attempted rally breakout.

Near-term major support sits at 45,000…medium-term at 40,000…and longer-term support at 30,000. These are important levels in the face of a new 7.1 major earthquake that struck today near Mexico City, as reported below (the death toll continues to mount as the day wears on), especially since the rally above its congestion zone has been weak. (more…)