Index Update 25.04.2015

MOMENTUM

We run our proprietary momentum scoring algorithm on indices just like we do on stocks. You can use the momentum scores of sub-indices to get a sense for which sectors have the wind on their backs and those that are facing headwinds.

Traders can pick their longs in sectors with high short-term momentum and their shorts in sectors with low momentum. Investors can use the longer lookback scores to position themselves using our re-factored index Themes.

You can see how the momentum algorithm has performed on individual stocks here.

Here are the best and the worst sub-indices:

index momentum best 365 2015-04-24 png

index momentum best 50 2015-04-24 png

index momentum worst 365 2015-04-24 png

index momentum worst 50 2015-04-24 png

Refactored Index Performance

50-day performance, from February 10, 2015 through April 24, 2015:

Equally Weighted Market Cap. Weighted
CNX FMCG (EQUAL) +5.98% CNX INFRA (CAP) +4.81%
CNX MNC (EQUAL) +2.47% CNX PHARMA (CAP) +1.98%
CNX INFRA (EQUAL) +1.31% CNX MNC (CAP) +1.22%
CNX CONSUMPTION (EQUAL) +0.14% LIX15 Midcap (CAP) +0.64%
CNX AUTO (EQUAL) +0.09% CNX CONSUMPTION (CAP) -0.74%
CNX ENERGY (EQUAL) +0.03% CNX METAL (CAP) -1.41%
LIX15 Midcap (EQUAL) -0.25% CNX FMCG (CAP) -1.56%
NI15 (EQUAL) -0.73% CNX ENERGY (CAP) -1.67%
CNX PSE (EQUAL) -0.88% CNX AUTO (CAP) -1.82%
CNX IT (EQUAL) -1.51% CNX PSE (CAP) -1.88%
CNX COMMODITIES (EQUAL) -2.32% CNX COMMODITIES (CAP) -2.07%
CNX FINANCE (EQUAL) -2.52% CNX FINANCE (CAP) -3.29%
CPSE INDEX (EQUAL) -2.52% NI15 (CAP) -3.47%
CNX SERVICE (EQUAL) -2.69% CNX SERVICE (CAP) -3.89%
CNX BANK (EQUAL) -3.56% CNX BANK (CAP) -4.04%
NV20 (EQUAL) -3.59% LIX 15 (CAP) -4.56%
CNX PHARMA (EQUAL) -3.80% CNX PSU BANK (CAP) -4.59%
LIX 15 (EQUAL) -3.86% NV20 (CAP) -4.71%
CNX MEDIA (EQUAL) -4.14% CPSE INDEX (CAP) -4.96%
CNX METAL (EQUAL) -5.45% CNX MEDIA (CAP) -7.68%
CNX PSU BANK (EQUAL) -5.83% CNX REALTY (CAP) -8.07%
CNX REALTY (EQUAL) -7.39% CNX IT (CAP) -8.24%

Trend Model Summary

Index Signal % From Peak Day of Peak
CNX AUTO SHORT
10.28
2015-Jan-27
CNX BANK SHORT
12.42
2015-Jan-27
CNX ENERGY SHORT
29.16
2008-Jan-14
CNX FMCG SHORT
7.58
2015-Feb-25
CNX INFRA SHORT
48.62
2008-Jan-09
CNX MEDIA SHORT
28.84
2008-Jan-04
CNX METAL SHORT
55.32
2008-Jan-04
CNX MNC SHORT
6.69
2015-Mar-12
CNX NIFTY SHORT
7.68
2015-Mar-03
CNX PHARMA SHORT
11.72
2015-Apr-08
CNX PSE SHORT
25.79
2008-Jan-04
ENERGY, INFRA, MEDIA, METAL and PSE sub-indices are well below their 2008 boom-era heights. Banks and Pharma have been badly hit this year. Will MNCs provide cover?
Our trend model is short on all indices right now, probably indicating that the market is over-sold…