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.
EFA Major Trendline Break | Emerging Markets EEM – Will it Break or Bounce?
EFA Major Trendline Break
Emerging Markets EEM
The EUR Falls to Pieces
The last time the market began a serious downward turn was January 19th (the downward turn was terminated, as I've cited ad nausem, on February 5th). Prior to that turn, the EUR/USD was shaping up for a meaningful bounce higher. Instead, what looked like a nice saucer formation was punctured to the downside. I've highlighted January 19th below.
Given the state of this market, I try not to offer the bearish side of me much in the way of optimism, but I will point out that we're witnessing a similar move right now, thanks to Portugal's downgrade.
I'm making a particular point of this for one key reason – – – I've been frustrated at how disconnected the US dollar's strength has been from equities (e.g. it only seems to work to favor the bulls, and never the bears). But the fact is that, during the last significant EUR tumble, equities quickly "caught up." It'll be interesting to see what happens this time, since we could be experiencing another January 19th now, two months later.
Correction Higher In Risk (by cantabnomad)
Equities and other risky assets will likely sell-off hard fairly soon. I consider it highly unlikely that sustained upside progress can be made.
Below is a daily chart of the German DAX. This is my count and projections, unchanged from January 2010.
This is an hourly chart of mainland Chinese large caps traded in Hong Kong (the H-shares index). This index is weaker than the Hang Seng, and failed to take out the resistance highlighted by the red box. From Elliott Wave perspective, the rally from February lows has been corrective and is very likely over at current levels. This index is putting in a massive, massive top. All this for the companies that cater to the market that will save the world in 2010???
