Market MATH & Watchlist

Jul 07, 2024

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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:

Short-term trend has been trending up after bouncing from the 50% level.

Momentum:

Momentum is also positive. It did cool off from the highs and now sloping up.

N50:

On an uptrend on low volatility

N500:

Uptrend on low volatility

Net4% Movers:

It has been hugely bullish the entire week with values of ~10% constantly.

We have been in a hugely bullish Uptrend.

The overbought levels are still getting more overbought.

As trend followers, this is not a problem for us.

As long as bullishness persists, there is no reason to believe that we will not continue the trend.

The fact that markets are overbought, will present some likelihood of a pullback. So I will not be surprised if that comes.

But will not predict it beforehand and act on that prediction.

Strongest groups (short-term and medium-term):

I will be on the lookout for strength from the usual suspects:

Apart from these, I also anticipate the possibility of strength in the following groups:

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