This past week I came across a potential trade setup in an Indian micro-cap stock that really got me thinking about the question, “Who am I as a market participant?”. With all the noise created on a daily basis, it’s easy to lose sight of your answer to this simple question, but doing so inhibits your ability to make any decision about markets responsibly.
Nasdaq 100 Stocks Breaking Out
The Nasdaq 100 just hit another all-time high, as did the amount of people quoting the percentage of the index’s gains that are from its top five components. While that makes for a good headline and soundbite, it’s not really all that actionable. What is actionable is the chart below, which we spoke about in early June.
[Free Chart(s) of the Week] Nifty 50 Makes 5-Month Highs
Large-caps in India have been on a tear relative to their small and mid-cap counterparts, which we’ve spoken about at length over the last few months. With that said, it’s no surprise to see that the Nifty 50 is leading to the upside once again by clearing its recent range on an absolute basis and making new 5-month closing highs.
Large-Cap Healthcare Coming Back To Life?
From the desk of Tom Bruni @BruniCharting
In 2018 the trend of small-cap Healthcare out-performance over its large-cap counterparts accelerated aggressively, with the small-cap ETF $PSCH returning 30.50% YTD and the large-cap ETF $XLV up a meager 1.70%.
Consumer Goods Stocks Are Breaking Out!
For months we’ve been focusing our long efforts on stocks in sectors like Fast Moving Consumer Goods that have been showing relative strength. Today we’re revisiting the Consumer Goods sector as it makes new all-time highs on an absolute basis and nearly 1-year highs relative to the Nifty 500 to see what names we want to be involved in to capitalize on this theme.
[Premium] Market Breadth Update
Now that we’re halfway through the year, it seems like an appropriate time to review market breadth both globally and within India to identify how we want to be positioned in equities during the second half of this year. In this post we’ll do just that by looking at all of the global equity markets and Nifty sectors we track to determine their trend and momentum readings across multiple timeframes, so that we can come to a conclusion based upon the weight of the evidence.
[Premium] Market Breadth Update
From the desk of Tom Bruni @BruniCharting
Throughout April and May we’ve discussed market breadth improvements that have us bullish on equity prices both in the US and globally. Today I want to perform a simple exercise to see how the data we’re looking at has developed over the last two months or so of trading. [Read more…]
[Premium] Monthly Chart Updates
Last month we introduced the newly added Monthly Chartbook in a post where we discussed the trends and perspectives seen through a long-term lens. Our conclusions were that many of our price objectives for the Nifty Sectors and Indices were hit and that a neutral approach was best in many cases. In that type of environment we wanted to focus our long trades in areas showing relative strength like large-cap Financial Services, IT, and Consumers Goods, while focusing our short trades in areas that were showing relative weakness, like mid and small-cap Infrastructure, Realty, and Metals stocks.
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