ANALYSIS ON FED STANCE Powell has consistently indicated that interest rate decisions would hinge on economic data, a stance reaffirmed by the unchanged rates in the latest policy announcement. Despite the Fed's clarification that rate cuts are unlikely until there is more certainty that inflation is consistently heading towards the 2% target, some still question...
When we look at the first chart the Margin Debt with brokers (aka how much the brokers are deploying margin) - we see a positive relationship with the times when brokers are on margin (aka buying a lot) and the market going up. When we analyse the Rate of Change of this stat for the last 15months we can see that currently we are getting to a state of bearishness...
Hello Traders, Today, we're taking a look at the 63-Day QQQ-QQEW ROC% Spread Indicator. This unique tool provides us with a perspective on the momentum difference between the Invesco QQQ ETF (QQQ) and the First Trust NASDAQ-100 Equal Weighted Index Fund (QQEW) over a 63-day trading period. Credit for this study goes to Ned Davis Research (NDR), who provide quality...
On Thrusday an important momentum thrust indicator gave a buy signal with NYSE advancing stocks leading declining stocks by better than 1.91 to 1 over the last 10 trading sessions. The Thrust has been backtested by NDR (Ned Davis) and we can see very impressive statistics. I have developed an indicator for this and it is available in my profile. Here is the link too:
The market triggered last week the Ned Davis 3 Day Price Thrust Trigger Indicator - indicator available in my profile. The Thrusts occur when the S&P 500 rises at least 1.5% for one day, at least 1.15% for a second day, and at least 1.5% on the third day. The record since 1970 is perfect one year later. However, the prior18 cases, ending in 1938, only show 11 out...
On my radar, I'm just seeing downside for the banks! Even Nedbank has given a potential short position. Below Symmetrical Triangle Target 1 - R169.95 What are your thoughts?
Nedbank has taken some time but is finally on the move to R200. Financials are making a final push and Nedbank is one of the stronger banking stocks. Look for a final push into support likely to become resistance.
After some time hanging around the yearly pivot point, Nedbank is now ready to make the push to R200 to finally recover the covid losses. I have had to have some patience with this one - see posts below.
Following the strength in Nedbank and, financial stocks since November 2020 we are now seeing the markup phase starting. Nedbank has show strength as the trading range has resolved. The markup should take us back to the previous breakout levels.
Nedbank is breaking out potentially to correct back to 22000 to 24000 after the Corona Crash. There is some volume in the up moves that is gaining momentum. If you are patient enough you can wait for a pullback to the breakout level but if you have some FOMO this could be a time to get on the train just know you may have to sweat the pullback.
Nedbank again holding on at the bottom of this channel - monitor if it holds or breaks
Similar to Standard Bank and Firstrand Nedbank is making higher highs. There have been high volumes between R80 and R110. After the significant selling climax, there is some room in the recover before the previous area of volume around R200. This gives a good risk: reward ratio if the last point of supply (LPS) is used to define the stop-loss.
After distribution and a backup (BU) to the trading range the markdown of Nedbank started. After the breakout of the BU trading range we now have a retest. Volume increases on the declines and negative divergence on the volume RSI there is some momentum pushing price down. The relative strength is declining and NED is weaker than the market.
JSE:NED has formed a strong bullish engulfing candle which shows great upward momentum.
JSE:NED is showing signs of a possible reversal. A few days ago a bearish harami formed at a very strong resistance level which at the same time formed a double top. Planning on entering a short position if it trades a bit lower.
Nedbank Group is one of SA’s four largest banking groups by assets and deposits, with Nedbank Ltd. being its principal banking subsidiary. Nedbank Group is a JSE Top 40 company with its ordinary shares listed on the JSE since 1969 and on the Namibian Stock Exchange since 2007. The group's market capitalisation was R128 billion at 31 December 2017. Old Mutual plc...
- NED's at a bit of an inflection point (50/50 pivot point ) - Volume-profile favours the thesis - Will allocate Short if yellow shaded area is broken - Alternatively, will look to Long if price breaks above pink trend-line