Going through our universe of coverage I noticed weakness in the Rupee over the last week, so this post is going to help put that into the perspective of the longer-term trend and outline how we’re approaching it.
These Stocks Offer Clues Into Broader Market’s Direction
About ten days ago we outlined why it appeared Indian Equities were due for a pause from a tactical perspective and that’s what we’re getting.
With no movement in the major averages, there’s nothing to do, right?
Wrong!
In this post, I outline a few of the stocks we’re watching and why they’re important.
[Chart of The Week] Marijuana Chart Suggests Look Out…Above?
From the desk of Tom Bruni @BruniCharting
Marijuana stocks have been an absolute disaster for longs in 2019, but one chart suggests that after a nearly 60% decline, the Horizons Medical Marijuana ETF and its components are set up for a counter-trend rally.
Mystery Chart 11-12-2019
From the desk of Tom Bruni @BruniCharting
New Mystery Chart!
For those new to the exercise, we take a chart of interest and remove the x/y-axes and any other labels that would help identify it. The chart can be any security in any asset class on any timeframe on an absolute or relative basis. Maybe it’s a custom index or inverted, who knows!
We do all this to put aside the biases we have associated with this specific security/the market and come to a conclusion based solely on price.
You can guess what it is if you must, but the real value comes from sharing what you would do right now. Buy, Sell, or Do Nothing?
European Financials and Risk Appetite
From the desk of Tom Bruni @BruniCharting
Stabilization in European Financials has been a big part of our bull case as they’re one of the largest sectors of the Stoxx Europe 600, our broad measure of European stocks, and many individual European countries.
The other aspect of it is risk appetite. If the worst of the worst sectors is catching a bid, then market participants are not likely pricing in the end of the world.
With that in mind, let’s take a look at what we’re seeing in the space right now and what it means for risk appetite.
[Premium] A Clear Inflection Point For Public Sector Banks
Thursday we looked at two lagging sectors that have been developing signs of a potential bottom like we saw in Energy, Autos, and others several months ago.
Today I want to follow up on that post by diving into the Nifty PSU Bank Index components to see if what we’re seeing there supports the action that’s occurring in the equally-weighted index.
[Premium] Breadth Thrust Suggests Higher Prices Ahead
In September we saw a massive spike in the number of new 63-day highs in the Nifty 500’s components.
Today I want to take a look at look at the data and answer the questions how rare is this signal? and what are the forward returns?
[Read more…]
[Chart(s) of The Week] Can These Sector Laggards Play Catch-Up?
The Nifty Public Sector Bank and Media sectors of the market have been laggards for a while, but we’re now beginning to see signs that rotation into these areas is ahead. [Read more…]
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