#WeeklyIndexCheck CW52/2022
Market Quadrant:
⦿ Trend: Uptrend under pressure
⦿ Momentum: Negative & Worsening
⦿ Breadth: Weak but strengthening
⦿ Bias: Bullish
⦿ Swing Confidence: 25
Market Quadrant:
⦿ Trend: Uptrend under pressure
⦿ Momentum: Negative & Worsening
⦿ Breadth: Weak but strengthening
⦿ Bias: Bullish
⦿ Swing Confidence: 25
Trend
⦿ Most indices stay in uptrend under pressure.
⦿ Smallcap, IT & Pharma stay in a confirmed downtrend.
⦿ No index in a confirmed uptrend.
⦿ Most indices stay in uptrend under pressure.
⦿ Smallcap, IT & Pharma stay in a confirmed downtrend.
⦿ No index in a confirmed uptrend.
Momentum
⦿ Metal & Oil-&-Gas indices have positive & improving momentum.
⦿ Among major indices, Nifty, NiftyJR, CNX500, & Midcap have negative & worsening momentum.
⦿ Banknifty & Smallcap still have positive but worsening momentum.
⦿ Metal & Oil-&-Gas indices have positive & improving momentum.
⦿ Among major indices, Nifty, NiftyJR, CNX500, & Midcap have negative & worsening momentum.
⦿ Banknifty & Smallcap still have positive but worsening momentum.
Swing
⦿ Both Nifty & Smallcap are now in Downswing under strain. Both indices are in a weekly upswing.
⦿ Swing Confidence is 25. Long-only swing traders should now be trading with 1/4 position size.
⦿ Most indices are in downswing under strain. Metals are in early upswing.
⦿ Both Nifty & Smallcap are now in Downswing under strain. Both indices are in a weekly upswing.
⦿ Swing Confidence is 25. Long-only swing traders should now be trading with 1/4 position size.
⦿ Most indices are in downswing under strain. Metals are in early upswing.
Breadth
⦿ Market breadth trying to regain strength on all timeframes.
⦿ Intermediate timeframes still to give a fresh buy signal.
⦿ Higher timeframes are now bullish.
⦿ Market breadth trying to regain strength on all timeframes.
⦿ Intermediate timeframes still to give a fresh buy signal.
⦿ Higher timeframes are now bullish.
Bias
Overall, the market turns bullish after only 1 negative week, as the number of stocks up 25% plus in a quarter are again greater than that down 25% plus.
The ratio between the two is the primary breadth ratio, which is now 3.74, which is much better than last week.
Overall, the market turns bullish after only 1 negative week, as the number of stocks up 25% plus in a quarter are again greater than that down 25% plus.
The ratio between the two is the primary breadth ratio, which is now 3.74, which is much better than last week.
That’s all for this week. If you'd like to read this as a newsletter, find it here:
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