#WeeklyIndexCheck CW22/2022
Market Quadrant:
⦿ Trend: Confirmed Downtrend
⦿ Momentum: Negative but improving
⦿ Breadth: Weak, but improving on lower timeframes
⦿ Bias: Bearish on both long & short timeframes
⦿ Swing Confidence: 100%
Market Quadrant:
⦿ Trend: Confirmed Downtrend
⦿ Momentum: Negative but improving
⦿ Breadth: Weak, but improving on lower timeframes
⦿ Bias: Bearish on both long & short timeframes
⦿ Swing Confidence: 100%
Trend
⦿ MNC index joins Auto & FMCG in a rally attempt
⦿ Almost all indices are in confirmed downtrend
⦿ PSE, Power & Energy in uptrend under pressure
⦿ MNC index joins Auto & FMCG in a rally attempt
⦿ Almost all indices are in confirmed downtrend
⦿ PSE, Power & Energy in uptrend under pressure
Momentum
⦿ Auto is the only index with positive momentum
⦿ Major indices (Nifty, CNX500, Midcap & Smallcap) now have negative but improving momentum.
⦿ NiftyJR still has negative & worsening momentum
⦿ Auto is the only index with positive momentum
⦿ Major indices (Nifty, CNX500, Midcap & Smallcap) now have negative but improving momentum.
⦿ NiftyJR still has negative & worsening momentum
Swing
⦿ Both Nifty & Smallcap indices are in confirmed upswing, so SwingConfidence is 100%.
⦿ NiftyJR is lagging behind, & is in early upswing
⦿ Commodities, Energy, Metals & Power are still in confirmed downswing
⦿ Both Nifty & Smallcap indices are in confirmed upswing, so SwingConfidence is 100%.
⦿ NiftyJR is lagging behind, & is in early upswing
⦿ Commodities, Energy, Metals & Power are still in confirmed downswing
Breadth
Slightly improving from last week. Higher timeframes still bearish, while lower timeframes giving fresh buy signal.
⦿ 24% → 57% above 20MA (fresh buy)
⦿ 15% → 21% above 50MA (near oversold)
⦿ 21% → 24% above 150MA (bearish)
⦿ 24% → 30% above 200MA (bearish)
Slightly improving from last week. Higher timeframes still bearish, while lower timeframes giving fresh buy signal.
⦿ 24% → 57% above 20MA (fresh buy)
⦿ 15% → 21% above 50MA (near oversold)
⦿ 21% → 24% above 150MA (bearish)
⦿ 24% → 30% above 200MA (bearish)
Bias
On a modified Stockbee market monitor, the short-term indicator of 13% up in 34 days stays negative for past 4 weeks, & the intermediate 25% plus in a month is negative for past 3 weeks, & the long-term metric of stocks 25% plus quarter is now negative for past 2 weeks.
On a modified Stockbee market monitor, the short-term indicator of 13% up in 34 days stays negative for past 4 weeks, & the intermediate 25% plus in a month is negative for past 3 weeks, & the long-term metric of stocks 25% plus quarter is now negative for past 2 weeks.
Finally...
The market is overall bearish for past 2 weeks, as the number of stocks up 25% plus in a quarter is now lesser than that down 25% plus in a quarter. The ratio between the two is the primary breadth ratio, which is now 0.76.
The market is overall bearish for past 2 weeks, as the number of stocks up 25% plus in a quarter is now lesser than that down 25% plus in a quarter. The ratio between the two is the primary breadth ratio, which is now 0.76.
That’s all for CW22/2022. If you'd like to read this as a newsletter, find it here:
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