Market MATH & Watchlist

15-Sep-2024: Bias Bullish

MATH: Momentum Anticipation and Trend by Homma:

---

MATH last week: Click the link

The most comprehensive article on Breadth and Anticipation:

The 3 bulls framework for situational awareness

---

As technical traders, We

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

---

Trend: “Percentage of stocks above 10-DMA”

Above its 5-DMA

Above 50, and

Pointing Up.

It has been increasing the whole week.

Bias still bullish

Momentum: “10-day Rate of change”

After hovering around zero and going sideways, the plot has crossed above its 5-DMA last week and is firmly above 0.

Away from its overbought area.

Bias is bullish.

N500 (same for N50):

At ATH.

and has put a small range candle with a small lower wick.

Bias bullish.

Net4% Movers:

Had a bullish positive print the whole last week.

As long as it is above 0, bias will be bullish

Anticipation:

The bias is firmly bullish.

We may expect some easy money environment to continue.

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

I am still wary of the volatility and choppiness.

---

Group Strength:

The strongest groups last week:

Index:

Consumer Durables-FMCG-Consumption

Pharma and IT are still holding up.

Strong Groups last week:

Pharma - IT - Jewellery - consumer goods

Watch out for Strength:

Just follow the strongest RS stocks.

---

Watchlists: