WELCOME

Welcome and thank you for visiting!

The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

...If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Fall

Fall

Events

UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Oct. 16 @ 8:30 am ET ~ Core Retail Sales & Retail Sales
* Wed. Oct. 16 @ 2:00 pm ET ~ Beige Book Report
* Wed. Oct. 30 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
* Fri. Nov. 1 @ 8:30 am ET ~ Employment Data
* Wed. Nov. 13 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. Nov. 20 @ 2:00 pm ET ~ FOMC Meeting Minutes

*** Click here for link to Economic Calendars for all upcoming events

Tuesday, September 17, 2019

India's Nifty 50 Index Under Bearish Death Cross

The news in this article from Bloomberg does not bode well for India's market.


The profit-taking mentioned in the article is depicted on the following monthly chart of the Nifty 50 Index (NSEI).

Price is sitting just below near-term support of 11000 and has fallen outside of an uptrending channel from the February 2016 lows.

The Momentum indicator (MOM) began diverging and making lower swing highs after October 2017, while the index was making higher swing highs...hinting at impending weakness. At the moment, MOM is sitting just above the zero level. A drop and hold below that would see price weaken further, perhaps down to its next major support level of 10000.


On a shorter timeframe,
  • a bearish moving average Death Cross has just formed on the daily chart of NSEI
  • price is trading below both the 50 and 200 MAs, and
  • Balance of Power is in the hands of the sellers and accelerating,
all of which are hinting of further near-term weakness, unless and until those conditions change.