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Sellers Step In As Moving Averages Hold

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After days of small gains it only took two days to undo the buying for the majority of August before longs stepped in to recover things by Friday’s close. The savior for indices were key moving averages – the 50-day MAs in particular – as traders complacent after easy gains received a bit of a jolt. This isn’t a crash, nor necessarily the start of one, but we need to see what happens when indices become oversold and whether they can attract sufficient buyers to take indices out of this condition; if they can’t, then the crash sirens will have more credence. The Nasdaq saw ‘sell’ triggers in the MACD and -DI/+DI, but stochastics require a few more days of weakness before they can be considered bearish, let … [Read More...]

Nifty Analysis for 29 Sep

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FII bought 9 K contract of Index Future worth 709 cores, Net OI has increased by 9.4 K contract, 9.2 K Long contract were added by FII and 200 Shorts were added by FII. Net FII Long Short ratio at 1.39 So FII used fall to enter longs and exit shorts. As Discussed in Last … Read more Nifty Analysis for 29 Sep The post Nifty Analysis for 29 Sep appeared first on Bramesh's Technical Analysis. [Read More...]

Oh Hi Mark to Market

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FEEDI penned a recent post describing how the good people at Zillow had slashed the ostensible value of my lovely private residence from $8.4 million to $4.8 million (maybe they just like flipping digits?) Given the relatively smooth sailing of Zillow data, this was curious to me, until I stumbled upon an event that mightRead More 0 Comments [Read More...]

Oil and gold come under early pressure

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Oil in the red despite wider market optimism Interestingly, rising stock markets and a softer dollar are not providing a boost for oil prices, which are trading a little lower as Covid fears dominate. With global deaths about to pass one million and case numbers across Europe rising even prior to the high risk winter period, the demand outlook for crude is looking challenging. Stable prices for now may be encouraging but the risks remain to the downside, the only opposing factor being OPEC+ following the warnings from the Saudi Arabian Energy Minister. Gold stable but risks skewed to downside Gold is another who’s risks appear skewed to the downside, with a softer dollar providing little respite on Monday. The yellow metal has come under pressure … [Read More...]

EU Close – Markets focus on Trump-Biden Debate and NFP, China’s 5-year plan, Brexit Optimism, Commodities bounce back on weaker dollar

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US stocks are off to a positive start as investors look beyond rising virus cases in the US and focus on the economic comeback that seems firmly priced in for next year.  The S&P 500 and 30-stock Dow are attracting some value investors following their four-week losing streaks, while the Nasdaq continues to benefit from FOMO trade with the tech giants.  Tomorrow’s presidential debate will likely focus on the coronavirus, infrastructure plans, race and violence, transfer of power, and differences in tax strategies, with some focus on the NY Times story that paints the President as a serial tax avoider that has $300 million in loans due within four years.  Unless Biden has a big gaffe, many are not anticipating a big shift in the polls. … [Read More...]

S&P Bounces At Measured Move Target

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An easy headline which has played out as true, although the same bounce occurred in the Nasdaq well before the measured move target is reached. In the case of the S&P, the measured move target is above the 200-day MA – a typical support level and a more likely area for a bounce – so it remains to be seen if this bounce will hold but it does provide a level to set protective stops (for existing positions in the S&P and member stocks). Note, technicals are all net negative and aren’t really in support of a bounce, with the exception of short term and intermediate stochastics which have converged at an oversold state. The Nasdaq bounce is also occurring in a backdrop of negative technicals and … [Read More...]

This week will determine if tech down-trend will continue. Monitoring GLBs to find leaders during a correction–$PINS, $PTON, $CRWD; Follow the…

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IndicatorsGMI: 1/6GMI-2: 3/8T2108: 23%The GMI is 1 (of 6) and Red and IBD has called the market in a correction. IBD enthusiasts are looking for a follow-through day (FTD) this week. After a possible bottom, an FTD would occur if one of the major indexes were to close 1%+ higher on greater volume than the prior day.  Investors.com and MarketSmith will tell us when an FTD happens. I am looking for a close of the QQQ back above its 10 week average (currently 273.13). QQQ has rebounded exactly to just below its 10 week average. Both the SPY and DIA are weaker and further below their 10 week averages. When the short term trends are down, it is more difficult  to make profits by betting on the long side. … [Read More...]

Nifty Bank Nifty Weekly Options Intraday Trading

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Below are the Nifty and Bank Nifty Weekly Options Trading Levels for 28 Sep. Options are for 01 Oct Weekly Expiry.If you Open Link via. Facebook and Unable to see the Levels, Please Open the site https://www.brameshtechanalysis.com/ and Open the Options Post. Please see the Below Video How to Trade Levels. Bank Nifty Weekly Call Options … Read more Nifty Bank Nifty Weekly Options Intraday Trading The post Nifty Bank Nifty Weekly Options Intraday Trading appeared first on Bramesh's Technical Analysis. [Read More...]

US Open – Sentiment not improving

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Headwinds are growing more fierce Investors are growing increasingly unimpressed with the near-term prospects for the global economy and the markets are suffering the consequences. Rising Covid cases, a fiscal void in Washington and monetary policy caution is taking its toll on investor sentiment as we head into a challenging winter period, fraught with uncertainty. The economic data, particularly in Europe, is already highlighting weaknesses in the hugely important services sector and with Covid cases rising and governments being forced to re-impose restrictions, that’s unlikely to change. It could be a difficult few months for investors. Of course, there is one obvious thing that could change all of that, a vaccine. Trump remains as determined as ever to have something to dangle in front … [Read More...]

Gold, Silver & HUI Big Pictures

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FEEDGold, silver and the HUI Gold Bugs index are viewed here by their big picture monthly charts. In NFTRH we use mainly daily and weekly charts of these along with individual miners to better gauge the shorter-term pictures, which will advise on the end of the correction better than these more cumbersome monthlies that areRead More 0 Comments [Read More...]

British pound steady despite PMI setback

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GBP/USD has reversed directions on Thursday, as the pair has recorded slight gains. In the European session, the pair is trading at 1.2761, up 0.27%. PMIs weaken in September The British manufacturing and sectors slowed in September, as the economy remains on tenuous footing. The Flash Manufacturing PMI dipped to 54.3, down from 55.3 beforehand. The drop was more dramatic in services, as the PMI fell from 60.1 in August to 55.1 in September. Still, both readings point to expansion, with readings above the neutral 50-level. Investors don’t appear concerned over the PMI numbers, as the British pound is steady on Thursday. BoE walks back on negative rates  Bank of England Governor Andrew Bailey was busy doing some damage control this week. On Tuesday, Bailey tried to dampen expectations that … [Read More...]

Bank Nifty Weekly Forecast for 28 Sep-01 Oct

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Last Week we gave Chopad Level of 21900  Bank Nifty gave short entry  and did all  target on Short Side so EXCELLENT Week for Chopad Followers.As coming week Saturn goes ingress again exciting week coming. 02 Oct is a trading Holiday . Bank Nifty Harmonic 20400 is important level holding the same rally can be … Read more Bank Nifty Weekly Forecast for 28 Sep-01 Oct The post Bank Nifty Weekly Forecast for 28 Sep-01 Oct appeared first on Bramesh's Technical Analysis. [Read More...]

Gamma Gamma Bo-Bamma…

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FEEDOver the weekend, I introduced Slope to some DIX pics. Now I would like to introduce you to the GEX which is short for “gamma exposure”. Basically, it’s the numerical sum of all the long gamma minus all the short gamma on S&P500 options (not SPY). If you’re not familiar with gamma, here is theRead More 0 Comments [Read More...]

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