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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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Dots

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Tuesday, September 19, 2017

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

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.






I wonder if the missiles that Kim Jong-un is busy recklessly firing into the Pacific Ocean, as well as his underground massive nuclear explosive tests, are contributing to the large-scale earthquakes in the Pacific Ring of Fire that we're seeing of late...think about it...

Sept. 21...Significant Earthquakes during the past 30 days