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Bullish Bounce Over?
Tracking US stock market
Deepak Singh
Twitter @smarket 20 February 2018
Leadership
• Reliance
• Ashok Leyland
• Bharat Forge
• L&T – Breakout support of 1240
• Infosys/TCS
• Tata Global/Radico Khaitan
What happened today?
After a Steep bounce from 200 day moving average –
S&P500 sold off. Does this mean – Bullish Bounce over?
Will S&P 500 retest 200 dma – is the new Talking Point?
Dow Jones Big Damage?
NASDAQ CLOSED FLAT
Blame WalMart
BIG DECLINE IN DOW JONES -BLAME WALMART
Why? – Concerns about Online Sales
Growth and Disappointing Profitability
Nothing to Worry stock
NASDAQ closed Flat
• Most of the Major Tech stocks closed with Bullish Bias
• Amazon
• Apple
• Facebook
• Netflix
• Nvidia
• Microsoft
THE BIG WORRY: BIG CORRECTION AHEAD?
BIG
CORRECTION
Source of the Worry:
Breakout in US 10 year Treasury Yields > 2.65%
Two things Bulls need
to keep an eye on
S&P 500 Support of 200 dma and Emerging Market
• S&P500 Support at 200 dma
• EEM support of 45.2
Emerging Market Support of 45.2
• Reliance
• Ashok Leyland
• Bharat Forge
• L&T – Breakout
support of 1240
• Infosys/TCS
• Tata
Global/Radico
Khaitan
Emerging Market exhibiting strength
There is always Bull
Market somewhere
CONSUMER and Regulatory Changes
Buy on Dip Theme: Retail ETF?
Near 43
Restaurant Recession Over?
It’s showing up in earnings
Dine Equity surprise not a surprise?
Near 43
State of the Stocks
Deepak Singh
Twitter @smarket 07 February 2018
US Steel X Breakout on back of proposed tariffs on
International steel imports to US
Will Kinder Morgan find support@17?
Disclaimer
State of the market Presentation is
Deepak’s perspective on the market.
This is purely for educational
purpose. Nothing contained herein is
a solicitation to trade or a
recommendation of a specific trade.
By reading this publication you agree
to make no trade relying in whole or
in part on the comments of the
writers
Feedback: stateofthemarket@gmail.com

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Is bullish bounce over

  • 1. Bullish Bounce Over? Tracking US stock market Deepak Singh Twitter @smarket 20 February 2018
  • 2. Leadership • Reliance • Ashok Leyland • Bharat Forge • L&T – Breakout support of 1240 • Infosys/TCS • Tata Global/Radico Khaitan What happened today? After a Steep bounce from 200 day moving average – S&P500 sold off. Does this mean – Bullish Bounce over? Will S&P 500 retest 200 dma – is the new Talking Point?
  • 3. Dow Jones Big Damage? NASDAQ CLOSED FLAT
  • 4. Blame WalMart BIG DECLINE IN DOW JONES -BLAME WALMART Why? – Concerns about Online Sales Growth and Disappointing Profitability
  • 6. NASDAQ closed Flat • Most of the Major Tech stocks closed with Bullish Bias • Amazon • Apple • Facebook • Netflix • Nvidia • Microsoft
  • 7. THE BIG WORRY: BIG CORRECTION AHEAD? BIG CORRECTION
  • 8. Source of the Worry: Breakout in US 10 year Treasury Yields > 2.65%
  • 9. Two things Bulls need to keep an eye on S&P 500 Support of 200 dma and Emerging Market
  • 10. • S&P500 Support at 200 dma • EEM support of 45.2 Emerging Market Support of 45.2
  • 11. • Reliance • Ashok Leyland • Bharat Forge • L&T – Breakout support of 1240 • Infosys/TCS • Tata Global/Radico Khaitan Emerging Market exhibiting strength
  • 12. There is always Bull Market somewhere CONSUMER and Regulatory Changes
  • 13. Buy on Dip Theme: Retail ETF? Near 43
  • 14. Restaurant Recession Over? It’s showing up in earnings
  • 15. Dine Equity surprise not a surprise? Near 43
  • 16. State of the Stocks Deepak Singh Twitter @smarket 07 February 2018 US Steel X Breakout on back of proposed tariffs on International steel imports to US
  • 17. Will Kinder Morgan find support@17?
  • 18. Disclaimer State of the market Presentation is Deepak’s perspective on the market. This is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers Feedback: stateofthemarket@gmail.com