Expert technical analysis of financial markets by JC Parets
With a new month come fresh monthly candles.
While we were going to write a comprehensive post on the most important monthly charts from November, we realized there are only two that matter to India’s stock market right now.
Let’s take a look. [Read more…]
From the desk of Tom Bruni @BruniCharting
In this week’s Chart of The Week, we discussed the lackluster rally attempt in international stocks relative to the S&P 500.
We concluded that the trend of underperformance remains firmly intact, which brings us to this week’s mystery chart reveal.
Let’s take a look. [Read more…]
Today we want to highlight a concerning development in the Nifty Realty sector and what it means for our approach to its components.
From the desk of Tom Bruni @BruniCharting
Since late August when interest rates around the globe began their counter-trend rally we’ve begun to see some outperformance from international equities…leading to headlines like this.
So, is the trend in international underperformance finally over?
Let’s take a look.
Over the last few weeks, we’ve talked about potential long-term bottoms in weaker sectors like Nifty PSU Banks, Pharma, among others.
Today we’re taking a look at the Nifty Media Index as it confirms a failed breakdown that could serve as the catalyst for a new move higher.
From the desk of Tom Bruni @BruniCharting
New Mystery Chart!
For those new to the exercise, we take a chart of interest and remove the x/y-axes and any other labels that would help identify it. The chart can be any security in any asset class on any timeframe on an absolute or relative basis. Maybe it’s a custom index or inverted, who knows!
We do all this to put aside the biases we have associated with this specific security/the market and come to a conclusion based solely on price.
You can guess what it is if you must, but the real value comes from sharing what you would do right now. Buy, Sell, or Do Nothing?
From the desk of Tom Bruni @BruniCharting
Tuesday’s Mystery Chart had a lot of people talking and guessing (incorrectly, as usual), so thank you all for your feedback and participation.
Overall the feedback was the chart was a longer-term buy, but people had concerns about how far it’s run in the near-term.
With that as our backdrop, let’s get into it.
In September we wrote about the Pharmaceuticals sector and its inability to gain traction due to relentless weakness in many components, particularly its largest component, Sun Pharmaceuticals.
Over the last two months the sector is basically flat, but several signs have emerged to suggest that we’re potentially at a major inflection point.
With that as our backdrop, let’s get into the charts. [Read more…]
