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.

Two Macro Market Signals Positive

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Excerpted from this week’s edition of Notes From the Rabbit Hole, NFTRH 747, a look at two currently positive macro market signals. When they turn it will be time for change. Meanwhile, the Q4-Q1 broad rally continues:

Two positive macro market signals

Last week we noted two market leadership signals, one positive (Semiconductor and Tech leadership) and one potentially negative (Healthcare relative to the broad market). The potential bottom in the XLV/SPY ratio looks like less of a potential one week later (positive for the markets) as the would-be low got bent out of shape, and Semi and shorter-term Tech leadership are still intact.

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A Schtickle of a USD Breakout (by LZ)

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The U.S. Dollar Index is pulling back today, but this is largely a Euro-driven move. One currency that isn’t joining is the Korean won. This might be nothing, but it’s worth keeping an eye on.

The won is highly sensitive to China and global trade. A bullish divergence in USDKRW would be significant. History is admittedly limited, but breaks above the green horizontal in the 1330 area have only occurred during explosive bull runs.

Also, the resistance line breached today was last broken to the upside in August 2022.

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