About a month ago we outlined that the US Dollar was at key support relative to a basket of Emerging Market Currencies, one of which is the Indian Rupee, and that its upward trend was likely to continue.

After some brief strength following this post, we're seeing the US Dollar continue to weaken...which raises the question of whether it's losing its leadership position against the world's major currencies.

In early May we outlined the "Five Bull Market Barometers" we're watching to identify the beginning of a new bull market in stocks.

If you haven't read our initial post linked above, we'd encourage you to check it out so you understand what the rationale behind these five indicators is.

Now, let's see where these indicators ended the week.

One of the things that really caught my attention during our Monthly Chart Review for June was that the Nifty Auto Sector is approaching resistance on an absolute basis, as are some of the sector's largest components.

In this post, I want to dig into the sector and identify if there's still opportunity in the sector on the long side.

First, let's take a look at the Nifty Auto Index weekly chart on an absolute basis. Prices briefly broke below support at 5,200 in March and quickly reversed, sparking a rally towards resistance near 7,000 where we sit today.

This is a multi-year level of resistance, so we're likely to see some consolidation after a 57% rally off the March lows. For now, 7,000 is the line in the sand. If prices are above that, then Auto's can see further upside towards 9,300, but below 7,000 then there's too much downside risk and opportunity cost in being aggressively long the sector.

Click on chart to enlarge view.

Premium Members can access all of June's Monthly Candles in our Chartbook, but in this post, we want to outline a few of the ones that stood out to us across the Equity, Currency, and Commodities space.

Yesterday we discussed our thesis for the Nifty FMCG Index to move higher on a relative basis.

Another sector we've been keeping an eye on is Technology, which has been unable to break out to new relative highs.

In this post, we're putting aside our broader market thesis that we've outlined (June 28th, June 27th, and June 24th) and focus on a specific sector that may be presenting opportunity on a relative basis.

A few weeks ago we highlighted the Nifty Services Index, but this week we're taking a similar approach and thesis towards the broader Nifty Fast Moving Consumer Goods Index.

Let's get into it.

From the desk of Tom Bruni @BruniCharting

We continue to focus on buying the strongest stocks, but we're also always playing devil's advocate by identifying risks to the bull thesis.

Two weeks ago, I outlined the "Island Reversals" and other areas of resistance in many global indices. Today, most of these indices are still stuck below those levels and instead are pushing towards multi-week lows.

Last week we looked at the weakness of US Financials on an absolute and relative basis and the S&P 500 failing to exceed resistance relative to two of its most liquid alternatives, US Treasury Bonds and Gold.

Today, I want to look at Crude Oil and why I'm adding it to our list of risks to the Equity bull case.

This post is a follow-on to our weekly Five Bull Market Barometers update, as there are specific risks to stocks worth highlighting as we head into July.

In early May we outlined the "Five Bull Market Barometers" we're watching to identify the beginning of a new bull market in stocks.

If you haven't read our initial post linked above, we'd encourage you to check it out so you understand what the rationale behind these five indicators is.

Now, let's see where we ended this week.

Outside of India, many major indexes like the S&P 500, have yet to recover above their resistance levels we outlined two weeks ago. With that said, prices have yet to collapse either.

Instead, what we're seeing is prices digesting their gains and setting up for their next move...in whatever direction that may be.

Inside of India, we're seeing the major indices experiencing their first real day of selling after a strong run off of the June 12th lows.

In this post, we're going to provide some perspective on the question many are seemingly asking, "was that it for stocks?"

From the desk of Tom Bruni @BruniCharting

When it comes to the analysis of Precious Metals, we can make it as simple or as complex as possible. There's no shortage of ratios, risk appetite measures, individual stocks to analyze, etc.

In this post, we're going to take a step back and focus on the assets we're trading rather than all of the other junk.

Reliance Industries is the largest component of the Nifty 50 at nearly 12% of the index's weighting, so when it moves, we need to pay attention.

The stock has come a long way since its March lows, so we want to take a look at where it's come from and what its recent break to new all-time highs means for its future.