#WeeklyIndexCheck CW39/2022
Market Quadrant:
⦿ Trend: Uptrend under pressure
⦿ Momentum: Short-term positive but worsening
⦿ Breadth: Worsening
⦿ Bias: Bullish
⦿ Swing Confidence: 0
Market Quadrant:
⦿ Trend: Uptrend under pressure
⦿ Momentum: Short-term positive but worsening
⦿ Breadth: Worsening
⦿ Bias: Bullish
⦿ Swing Confidence: 0
Trend
⦿ Most indices are in an uptrend under pressure. FMCG & Consumption are in a confirmed uptrend.
⦿ IT, Media, Energy & PSE are in a confirmed downtrend.
⦿ Pharma is now in a rally attempt.
⦿ Most indices are in an uptrend under pressure. FMCG & Consumption are in a confirmed uptrend.
⦿ IT, Media, Energy & PSE are in a confirmed downtrend.
⦿ Pharma is now in a rally attempt.
Momentum
⦿ Most indices are now have positive but worsening momentum
⦿ Pharma is the only index with positive & improving momentum
⦿ IT & Energy indices have negative & worsening momentum.
⦿ Most indices are now have positive but worsening momentum
⦿ Pharma is the only index with positive & improving momentum
⦿ IT & Energy indices have negative & worsening momentum.
Swing
⦿ Both Nifty & Smallcap indices are in a Confirmed Downswing.
⦿ Swing Confidence is now 0. Long-only swing traders should stay on the sidelines, & wait for better conditions.
⦿ Pharma & FMCG are the only indices in a confirmed upswing. All other in Confirmed Downswing.
⦿ Both Nifty & Smallcap indices are in a Confirmed Downswing.
⦿ Swing Confidence is now 0. Long-only swing traders should stay on the sidelines, & wait for better conditions.
⦿ Pharma & FMCG are the only indices in a confirmed upswing. All other in Confirmed Downswing.
Breadth
⦿ Market breadth further worsening on both lower & intermediate timeframes.
⦿ Higher timeframes also turning bearish.
⦿ Market breadth further worsening on both lower & intermediate timeframes.
⦿ Higher timeframes also turning bearish.
Bias
Overall, the market is bullish for 11th 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 7.5.
Overall, the market is bullish for 11th 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 7.5.
That’s all for this week. If you'd like to read this (in bit more detail) as a newsletter, find it here:
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