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.
You can see my original post of July 8th and four subsequent updates covering China’s Shanghai Index here for background information.
In my last update of September 8th, I noted that a bearish moving average Death Cross had formed on the Daily chart and price closed at 3170.45. Since that date, price moved sideways for over a month before it, finally, rallied to where it closed today (Tuesday) at 3604.80.
Remembers BRICs? Seems quaint now, doesn’t it? Because the “B” part of that acronym – Brazil – looks like it’s heading straight for complete cataclysm, and the country’s ETF below simply cannot find a bottom. The only winners are Americans with their sweet, sweet dollars who want to head down to Rio to see what that can buy on the cheap.
How strong is Japanese influence on U.S. markets?
Will the Shanghai Index regain strength on Monday?
Without U.S. markets opening until Tuesday, we may see an attempt by Japan’s Nikkei Index and China’s Shanghai Index to bounce somewhat. It may not become clear until Tuesday’s close as to the potential strength of any sustainable rally in these Indices, along with the S&P 500 Index. Furthermore, there are quite a lot of economic reports being released on Monday for Japan and China, which may influence Tuesday’s trading.
I’d keep a close eye on these three Indices, along with the USD:JPY forex pair, which have all traded lock-step (as shown on the following 1-Year Daily comparison chart), as to which direction the next (sustainable) breakout will occur.
Well, we all woke up to this (typically breathless) headline from ZH:
This has led to some red tones in our own pre-market quotes, although the 0.29% drop in the ES as I’m typing this is hardly a crash of its own, of course.
The irksome thing is that the market’s irrational unpredictability is more acute than ever. Take yesterday morning for example (please!) in which it looked like it was shaping up to a nice, smooth, steady descent in equities (tinted area on the left). All was going well, and then, RIP, a huge rally based on no volume and on no news.
I’d normally be more invigorated by the miniature “top” we’ve got this morning (the tinted area on the right) except for the fresh sting I feel from yesterday’s rally. I have no ETFs of any kind, but zillions of tiny equity shorts. We’ll see……….
