Market MATH & Watchlist: 29-Sep-24

Bias Bullish

MATH: Momentum Anticipation and Trend by Homma:

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MATH last week: Click the link

The most comprehensive article on Breadth and Anticipation:

The 3 bulls framework for situational awareness

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As technical traders, We

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

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Trend: “Percentage of stocks above 10-DMA”

Has made a higher low.

It looks to break out of the Downtrenline.

This would also take the plot above 50% which would be bullish.

Momentum: “10-day Rate of change”

The momentum plot is above zero.

And making higher highs.

Have a bullish bias.

N500 (same for N50):

At ATH.

This move is led primarily by the Largecaps.

Mid and small caps lag.

Net4% Movers:

The brightest data among all.

The week closed bullish with the net 4% score improving.

Bias is bullish.

Anticipation:

The anticipation remains the same.

The bias is firmly bullish.

But I would not let my guard down for a second.

I am still wary of the volatility and choppiness (like last week).

The moves have become more and more selective.

Migration to large caps is clear.

It is to be seen if the small and midcaps will now catch up or if the Largecaps will separate themselves further.

I believe as a swing trader one should be quick to derisk the trades.

Positional players may still trail with wider stops.

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Group Strength:

The strongest groups last week:

Index:

Consumer Durables-FMCG-Consumption still leading along with,

Pharma and Healthcare.

Metals-Oil & Gas- Auto had a bullish week.

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Watchlists: