As a trader it’s very important that one remains open minded in the market to see the patterns and trends that are evolving. With the S&P surging to one of it’s sharpest gains in the last 2 month’s, I did try to take a view on markets like someone starting today on a clean slate. […]
As mentioned in my August 27th post, the Indian Rupee has hit the upper borders of the trendline and looking at today’s SGX Nifty at pre-open and early currency market moves, it may be moving along expected path. This is shown in the chart below: So if USDINR charts this path, the stock markets should […]
First post from Singapore – settling down here took a bit longer than anticipated. OK, back to markets 🙂 As can be seen from the chart below, the channel lines are putting pressure on the Nifty. Also, momentum peaks continues to disagree with the new price highs. In my March 8th post, I had projected […]
Here is a chart of Indian Nifty in Dollar adjusted value. As is obvious from the above chart, Nifty has not even crossed the June highs, leave alone the April highs. And this could be the completion of a right shoulder in a head and shoulder top. While Nifty could very well continue to push […]
The Grand Daddy of technical analysis, the Dow Theory, indicated that the US markets have slipped into a primary down trend – in other words known as a bear market. The Dow Industrials closed below its May trough of 9810, a day after the Dow Transportation Index closed below its May trough of 4034. I’m […]
Yesterday’s close above 5200 on the Nifty does bring in some positives for the index but the bears may not have surrendered their last line of defence. As can be seen from the above chart, the correction from the April highs to 4786 has happened in a 5 swing fashion – usually an indication that […]
Here is the chart of India VIX. A reverse head and shoulder seems to be under construction. What is important to note here is that the pattern formation is taking place after a very low reading on the VIX (read complacency). Once the reading crosses the neckline (35-36 level) a lot more volatility may be […]
The Dow Transports and the small cap Russell 2000 closed below their respective 200 DMA. These were the 2 important indices that held above this much tracked level all through the Month of May and this could mark another significant breakdown in the US markets. As long as the Transportation index was holding above its […]
A round of flu kept me down the whole of last week and I was not able post any updates on the markets (and this will be a bit brief too). But a more serious attack was on least week – on the Euro. A trillion dollar package to defend the 16 nation currency from […]
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