[COPY] Market MATH & Watchlist

18-Aug-2024: Wedge Pop: Bottom in. Bullish Bias gets stronger

MATH: Momentum Anticipation and Trend by Homma:

---

MATH last week: Click the link

---

As technical traders, We

“Anticipate, but confirm. Wish, but only react.”

---

Trend:

Negative but improving.

“% above 10DMA” plots crosses above its 5DMA = bullish

We have a higher low = bullish

Bullish bias gets stronger.

Momentum:

Negative but improving.

10-day momentum Plot pointing up and crosses above its 5-DMA.

N500 (same for N50):

A period of low volatility was followed by

Price piercing through the 10/21 MAs with a strong gap up ~ A wedge pop (in Kell terminology).

Bullish bias gets stronger.

The Gap boundary and the resistance of the minor ascending channel may act as a small area of resistance.

Net4% Movers:

Bullish close to the week.

Anticipation:

My bullish bias has gotten stronger.

The minor resistance could mean we may have sideways action in the first half of the week, but anticipating an overall bullish week.

---

Group Strength:

Strongest (short term and medium term):

Index:

Pharma and health are still the strongest.

IT and FMCG getting stronger.

Strong Groups last week:

IT

Packaging films

Recycling

EMS

Batteries

Diagnostics

I will be on the lookout for strength in the Recycling space this week especially AWHCL

---

Watchlists: