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:
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:
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