#WeeklyIndexCheck CW13/2022
Market Quadrant
⦿ Trend: Rally Attempt
⦿ Momentum: Negative but improving
⦿ Breadth: Improving, but long-term still bearish
⦿ Bias: Bullish on both long-term & short-term
Market Quadrant
⦿ Trend: Rally Attempt
⦿ Momentum: Negative but improving
⦿ Breadth: Improving, but long-term still bearish
⦿ Bias: Bullish on both long-term & short-term
Trend
⦿ Most major indices (including Nifty, Midcap, Smallcap, CNX500, Banknifty) are now in rally attempt.
⦿ Power & PSUbank join Media, Commodities, Energy & Metal as confirmed uptrend indices
⦿ No index in outright downtrend
⦿ Most major indices (including Nifty, Midcap, Smallcap, CNX500, Banknifty) are now in rally attempt.
⦿ Power & PSUbank join Media, Commodities, Energy & Metal as confirmed uptrend indices
⦿ No index in outright downtrend
Momentum
⦿ Commodities join Metal, Energy & Pharma as indices with positive & improving momentum
⦿ All other indices have negative but improving momentum
⦿ No index with worsening momentum
⦿ Commodities join Metal, Energy & Pharma as indices with positive & improving momentum
⦿ All other indices have negative but improving momentum
⦿ No index with worsening momentum
Market breadth improving on all timeframes. Higher timeframes also getting less & less bearish.
⦿ 60% → 70% above 20MA (approaching overbought)
⦿ 30% → 46% above 50MA (awaiting buy signal)
⦿ 39% → 44% above 150MA (bearish bias)
⦿ 43% → 47% above 200MA (bearish bias)
⦿ 60% → 70% above 20MA (approaching overbought)
⦿ 30% → 46% above 50MA (awaiting buy signal)
⦿ 39% → 44% above 150MA (bearish bias)
⦿ 43% → 47% above 200MA (bearish bias)
% of stocks above/below 20& 50MA
The Ratio between stocks above & below 50MA is 1.0, while that for 20MA is 3.5. The 10-day cumulative ratio for stocks above 50MA is 0.4. A value >2 is good for swing trades on the long side.
The Ratio between stocks above & below 50MA is 1.0, while that for 20MA is 3.5. The 10-day cumulative ratio for stocks above 50MA is 0.4. A value >2 is good for swing trades on the long side.
4% up/down in 1 day
The 10-day cumulative ratio between stocks up & down 4% in a day stays in the green (>2), signalling that short-term trading oppurtunites are there.
When market is in bearish phase, a fresh bull move starts when 10-DCR first time above 2.
The 10-day cumulative ratio between stocks up & down 4% in a day stays in the green (>2), signalling that short-term trading oppurtunites are there.
When market is in bearish phase, a fresh bull move starts when 10-DCR first time above 2.
Stockbee Market Monitor
On a modified Stockbee market monitor, the short-term bearish phase (13% up in 34 days) is finally over after 5 weeks. Also, the long-term metric of stocks 25% plus quarter is now back in the green.
On a modified Stockbee market monitor, the short-term bearish phase (13% up in 34 days) is finally over after 5 weeks. Also, the long-term metric of stocks 25% plus quarter is now back in the green.
Primary Breadth Ratio
Overall, the market is bullish, as the number of stocks up 25% plus in a quarter is now greater than that down 25% plus in a quarter. The ratio between the two is the primary breadth ratio, which is now 1.28.
Overall, the market is bullish, as the number of stocks up 25% plus in a quarter is now greater than that down 25% plus in a quarter. The ratio between the two is the primary breadth ratio, which is now 1.28.
That’s all for this week. If you'd like to read this as a newsletter, find it here:
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