Last month price finally confirmed many of the divergences we were seeing under the surface and stocks began to correct…yet the Nifty 50 is sitting just shy of its all-time high.
What gives?
Expert technical analysis of financial markets by JC Parets
by Tom Bruni
Last month price finally confirmed many of the divergences we were seeing under the surface and stocks began to correct…yet the Nifty 50 is sitting just shy of its all-time high.
What gives?
by Tom Bruni
From the desk of Tom Bruni @BruniCharting
Over the last two months we’ve been pointing to many divergences in breadth and momentum, as well as intermarket relationships that add to the mixed near-term signals we continue to see around the globe.
Last week I compared the current environment in US Stocks to that of India’s a month ago saying the stage was set, but that all these divergences needed price confirmation before they become actionable.
by Tom Bruni
Yesterday we got new Monthly Candlesticks, so this post will outline a few of the major changes since last month. [Read more…]
by Tom Bruni
From the desk of Tom Bruni @BruniCharting
Canada, like a few other Major Indexes from around the globe, continues to churn around all-time highs. So which way will it resolve?
Let’s go sector by sector and see what the weight of the evidence suggests, just like JC did for US Stocks.
by Tom Bruni
From the desk of Tom Bruni @BruniCharting
Last week in our note to Institutional Clients we highlighted the potential for mean-reversion in the relative performance of Small and Micro-Caps, driven by rotation into Financials and Healthcare.
by Tom Bruni
From the desk of Tom Bruni @BruniCharting
With another potential failed breakout in the US Dollar setting up, here’s the metals trade we’re putting on.
by Tom Bruni
Excuse my play on words in the title, but I wanted to make the point that at 13% of the Nifty 500, the Fast Moving Consumer Goods Index is a big part of the bull case for Indian stocks.
We’ve talked about weak participation in this sector and since then it’s deteriorated further as opposed to getting better.
by Tom Bruni
From the desk of Tom Bruni @BruniCharting
While we wait to see whether or not this retest of all-time highs is a successful one, we want to define our risk on the long side in individual names that continue to lead the market higher.
One subsector that remains a consistent source of these setups is Software.