#WeeklyIndexCheck CW38/2022
Market Quadrant:
⦿ Trend: Uptrend under pressure
⦿ Momentum: Positive but worsening
⦿ Breadth: Worsening
⦿ Bias: Bullish
⦿ Swing Confidence: 0
Market Quadrant:
⦿ Trend: Uptrend under pressure
⦿ Momentum: Positive but worsening
⦿ Breadth: Worsening
⦿ Bias: Bullish
⦿ Swing Confidence: 0
Trend
⦿ Most indices are now in uptrend under pressure.
⦿ IT, Pharma, Energy & PSE are in a confirmed downtrend.
⦿ While financials are still in a confirmed uptrend, they are on the verge of going into uptrend under pressure.
⦿ Most indices are now in uptrend under pressure.
⦿ IT, Pharma, Energy & PSE are in a confirmed downtrend.
⦿ While financials are still in a confirmed uptrend, they are on the verge of going into uptrend under pressure.
Momentum
⦿ Most indices now have positive but worsening momentum.
⦿ Only FMCG & Pharma still have positive but improving momentum.
⦿ Only IT index has negative & worsening momentum.
⦿ Most indices now have positive but worsening momentum.
⦿ Only FMCG & Pharma still have positive but improving momentum.
⦿ Only IT index has negative & worsening momentum.
Swing
⦿ Nifty is in a Confirmed Downswing, while Smallcap is in Early Downswing. Both indices are in a weekly upswing.
⦿ Swing Confidence is now 0. Long-only swing traders should stay on the sidelines, & wait for better conditions.
⦿ Nifty is in a Confirmed Downswing, while Smallcap is in Early Downswing. Both indices are in a weekly upswing.
⦿ Swing Confidence is now 0. Long-only swing traders should stay on the sidelines, & wait for better conditions.
Breadth
⦿ Market breadth is now worsening on both lower & intermediate timeframes.
⦿ Higher timeframes stay bullish.
⦿ Market breadth is now worsening on both lower & intermediate timeframes.
⦿ Higher timeframes stay bullish.
Bias
Overall, the market is bullish for the 10th consecutive week, as the number of stocks up 25% plus in a quarter stays greater than that down 25% plus in a quarter.
The ratio between the two is the primary breadth ratio, which is now down to 13.
Overall, the market is bullish for the 10th consecutive week, as the number of stocks up 25% plus in a quarter stays greater than that down 25% plus in a quarter.
The ratio between the two is the primary breadth ratio, which is now down to 13.
That’s all for this week. If you'd like to read this as a newsletter, find it here:
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