This week we're trying a long idea in the IT space.

We retired our "Five Bull Market Barometers" in mid-July to make room for a new weekly post that's focused on the three most important charts for the week ahead.

This is that post, so let's jump into this week's edition.

In late July we reiterated our bullish stance on Reliance and since then prices have pushed to new all-time highs on an absolute and relative basis.

In this post, we outline what's next for the stock.

The Top/Down approach to markets is at the core of what we do at All Star Charts. That means starting at the asset class level and peeling back each layer to refine our view of the smaller components that make up that asset class. With each new layer, we discover information that helps us form our weight of the evidence conclusion.

That brings us to our weekly column, The Top/Down Take, where we hope to educate readers on how we execute this process and highlight its value through the analysis of popular stocks.

Last time it was Vodafone Idea Cellular, but today the stock we're looking at is Tata Consultancy (TCS) which made new all-time highs this week.

One industry group we've been getting a  lot of questions about is textiles.

In addition to answering each person individually, I thought it'd be beneficial to write an entire post outlining what we're seeing in this area of the market.

In public markets, we have the ability to wait for our pitch. There are always new opportunities popping up, so if we miss one, we know there are plenty more on their way.

That's why one of the most important concepts we discuss in our work is the need for patience and knowing what we're going to do before it happens. By having a plan in place we can execute our plan once the conditions we've been patiently waiting for come to fruition.

A great example of this has been Crude Oil over the last few months.

Market volatility is picking up slightly, so we're trying our luck on the short side again with a name in the Energy space.

We retired our "Five Bull Market Barometers" in mid-July to make room for a new weekly post that's focused on the three most important charts for the week ahead.

This is that post, so let's jump into this week's edition.

Monday's downside was an initial "shot across the bow" that caused us to take a more defensive approach towards Equities in the near-term.

In this post, we're taking a look at the rest of the week's action and update our views on the market.

The Top/Down approach to markets is at the core of what we do at All Star Charts. That means starting at the asset class level and peeling back each layer to refine our view of the smaller components that make up that asset class. With each new layer, we discover information that helps us form our weight of the evidence conclusion.

That brings us to our weekly column, The Top/Down Take, where we hope to educate readers on how we execute this process and highlight its value through the analysis of popular stocks.

Last time we talked Yes Bank, but today the stock we're looking at is Vodafone Idea Cellular.

This is the video recording of our September 3, 2020, Monthly Charts Live Strategy Session

Here is the video in full:

There are a lot of distractions in the market, particularly when it comes to news events that drive a stock quickly in one direction or another.

In this post, we want to look at the example of Reliance and Future Retail Ltd. to reiterate why it's best to focus on process rather than outcome when it comes to markets.