#WeeklyIndexCheck CW51/2022
Market Quadrant
⦿ Trend: Uptrend under pressure
⦿ Momentum: Negative
⦿ Breadth: Weak & oversold
⦿ Bias: Bearish
⦿ Swing Confidence: 0
Market Quadrant
⦿ Trend: Uptrend under pressure
⦿ Momentum: Negative
⦿ Breadth: Weak & oversold
⦿ Bias: Bearish
⦿ Swing Confidence: 0
Trend
⦿ Most indices are now in uptrend under pressure.
⦿ Smallcap index falls 8% in a week to enter a confirmed downtrend.
⦿ No index in a confirmed uptrend.
⦿ Most indices are now in uptrend under pressure.
⦿ Smallcap index falls 8% in a week to enter a confirmed downtrend.
⦿ No index in a confirmed uptrend.
Momentum
⦿ All indices have worsening momentum.
⦿ Among major indices, NiftyJR, CNX500 & Midcap have negative & worsening momentum.
⦿ Nifty, Banknifty & Smallcap still have positive but worsening momentum.
⦿ All indices have worsening momentum.
⦿ Among major indices, NiftyJR, CNX500 & Midcap have negative & worsening momentum.
⦿ Nifty, Banknifty & Smallcap still have positive but worsening momentum.
Swing
⦿ Both Nifty & Smallcap are now in Confirmed downswing. Both indices are still in a weekly upswing.
⦿ Swing Confidence is 0. Long-only swing traders would be in all-cash now.
⦿ Majority of indices are in a confirmed downswing.
⦿ Both Nifty & Smallcap are now in Confirmed downswing. Both indices are still in a weekly upswing.
⦿ Swing Confidence is 0. Long-only swing traders would be in all-cash now.
⦿ Majority of indices are in a confirmed downswing.
Breadth
⦿ Market breadth now quite weak on all timeframes.
⦿ Lower timeframes are oversold, so a technical bounce is highly probable.
⦿ Higher timeframes also turn bearish.
⦿ Market breadth now quite weak on all timeframes.
⦿ Lower timeframes are oversold, so a technical bounce is highly probable.
⦿ Higher timeframes also turn bearish.
Bias
Overall, the market turns bearish after 22 positive weeks, as the number of stocks up 25% plus in a quarter are now lesser than that down 25% plus in a quarter.
The ratio between the two is the primary breadth ratio, which is now 0.59, much lesser than last week.
Overall, the market turns bearish after 22 positive weeks, as the number of stocks up 25% plus in a quarter are now lesser than that down 25% plus in a quarter.
The ratio between the two is the primary breadth ratio, which is now 0.59, much lesser than last week.
That’s all for this week. If you'd like to read this as a newsletter, find it here:
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