Author: stockviz

Equally Weighted		Market Cap. Weighted
CNX REALTY (EQUAL)	+8.52%	CNX REALTY (CAP)	+11.07%
CNX PHARMA (EQUAL)	+8.28%	CNX PHARMA (CAP)	+10.83%
CNX PSU BANK (EQUAL)	+5.73%	NI15 (CAP)	+5.10%
CNX IT (EQUAL)	+3.39%	CNX IT (CAP)	+4.48%
NI15 (EQUAL)	+1.61%	CNX FMCG (CAP)	+2.82%
LIX15 Midcap (EQUAL)	+0.56%	NSE QUALITY 30 (CAP)	+2.81%
NSE QUALITY 30 (EQUAL)	-0.32%	CNX PSU BANK (CAP)	+0.88%
CNX SERVICE (EQUAL)	-1.50%	CNX CONSUMPTION (CAP)	+0.22%
CNX CONSUMPTION (EQUAL)	-1.58%	CNX MEDIA (CAP)	-0.50%
CNX MEDIA (EQUAL)	-1.61%	CNX SERVICE (CAP)	-1.64%
CNX BANK (EQUAL)	-1.79%	LIX15 Midcap (CAP)	-1.85%
CNX INFRA (EQUAL)	-2.26%	NV20 (CAP)	-2.81%
CNX AUTO (EQUAL)	-2.85%	CNX FINANCE (CAP)	-3.56%
CNX FINANCE (EQUAL)	-3.09%	CNX AUTO (CAP)	-3.74%
NV20 (EQUAL)	-4.37%	CNX BANK (CAP)	-4.05%
CNX FMCG (EQUAL)	-4.42%	CNX MNC (CAP)	-6.36%
CNX ENERGY (EQUAL)	-4.73%	CNX ENERGY (CAP)	-7.80%
LIX 15 (EQUAL)	-5.13%	LIX 15 (CAP)	-7.87%
CNX COMMODITIES (EQUAL)	-5.83%	CNX COMMODITIES (CAP)	-8.63%
CNX MNC (EQUAL)	-6.43%	CPSE INDEX (CAP)	-9.24%
CPSE INDEX (EQUAL)	-7.50%	CNX INFRA (CAP)	-10.30%
CNX PSE (EQUAL)	-8.80%	CNX PSE (CAP)	-10.51%
CNX METAL (EQUAL)	-9.31%	CNX METAL (CAP)	-13.10%

Index	Signal	% From Peak	Day of Peak
CNX AUTO	LONG	11.52	2015-Jan-27
CNX BANK	LONG	14.42	2015-Jan-27
CNX COMMODITIES	LONG	35.32	2008-Jan-04
CNX CONSUMPTION	LONG	5.71	2015-Aug-05
CNX ENERGY	LONG	33.93	2008-Jan-14
CNX FMCG	LONG	7.96	2015-Feb-25
CNX INFRA	LONG	53.04	2008-Jan-09
CNX IT	SHORT	87.64	2000-Feb-21
CNX MEDIA	LONG	18.06	2008-Jan-04
CNX METAL	LONG	66.60	2008-Jan-04
CNX MNC	SHORT	9.28	2015-Aug-10
CNX NIFTY	LONG	8.97	2015-Mar-03
CNX PHARMA	LONG	4.00	2015-Apr-08
CNX PSE	LONG	33.36	2008-Jan-04
CNX PSU BANK	SHORT	40.81	2010-Nov-05
CNX REALTY	LONG	90.30	2008-Jan-14
CNX SERVICE	LONG	9.02	2015-Mar-03

And just like that, momentum is back!

Equally Weighted		Market Cap. Weighted
CNX PHARMA (EQUAL)	+4.04%	CNX PHARMA (CAP)	+6.19%
CNX IT (EQUAL)	+0.78%	CNX IT (CAP)	+3.50%
CNX REALTY (EQUAL)	-1.31%	NI15 (CAP)	+1.24%
NI15 (EQUAL)	-2.34%	CNX REALTY (CAP)	+1.09%
CNX MEDIA (EQUAL)	-2.43%	NSE QUALITY 30 (CAP)	-0.77%
NSE QUALITY 30 (EQUAL)	-3.28%	CNX MEDIA (CAP)	-0.93%
CNX CONSUMPTION (EQUAL)	-5.08%	CNX FMCG (CAP)	-1.51%
CNX PSU BANK (EQUAL)	-5.15%	CNX CONSUMPTION (CAP)	-4.11%
CNX FMCG (EQUAL)	-5.48%	CNX SERVICE (CAP)	-6.62%
CNX AUTO (EQUAL)	-6.26%	LIX15 Midcap (CAP)	-6.81%
CNX SERVICE (EQUAL)	-6.80%	CNX MNC (CAP)	-6.83%
LIX15 Midcap (EQUAL)	-7.10%	CNX PSU BANK (CAP)	-7.53%
CNX FINANCE (EQUAL)	-7.13%	NV20 (CAP)	-9.08%
CNX MNC (EQUAL)	-7.43%	CNX AUTO (CAP)	-9.45%
CNX BANK (EQUAL)	-7.52%	CNX BANK (CAP)	-9.87%
NV20 (EQUAL)	-10.98%	CNX FINANCE (CAP)	-10.38%
CNX INFRA (EQUAL)	-11.65%	CNX ENERGY (CAP)	-15.28%
CNX ENERGY (EQUAL)	-12.01%	LIX 15 (CAP)	-15.71%
CNX COMMODITIES (EQUAL)	-12.73%	CNX COMMODITIES (CAP)	-15.89%
CPSE INDEX (EQUAL)	-13.24%	CNX PSE (CAP)	-16.23%
LIX 15 (EQUAL)	-13.40%	CNX INFRA (CAP)	-16.52%
CNX PSE (EQUAL)	-13.88%	CPSE INDEX (CAP)	-17.40%
CNX METAL (EQUAL)	-19.31%	CNX METAL (CAP)	-23.68%

Index	Signal	% From Peak	Day of Peak
CNX AUTO	SHORT	15.03	2015-Jan-27
CNX BANK	SHORT	16.57	2015-Jan-27
CNX COMMODITIES	LONG	38.24	2008-Jan-04
CNX CONSUMPTION	SHORT	7.34	2015-Aug-05
CNX ENERGY	LONG	36.33	2008-Jan-14
CNX FMCG	LONG	10.30	2015-Feb-25
CNX INFRA	LONG	54.62	2008-Jan-09
CNX IT	SHORT	87.57	2000-Feb-21
CNX MEDIA	SHORT	18.02	2008-Jan-04
CNX METAL	LONG	69.95	2008-Jan-04
CNX MNC	SHORT	9.50	2015-Aug-10
CNX NIFTY	SHORT	11.62	2015-Mar-03
CNX PHARMA	SHORT	4.99	2015-Apr-08
CNX PSE	LONG	35.62	2008-Jan-04
CNX PSU BANK	SHORT	42.81	2010-Nov-05
CNX REALTY	SHORT	90.62	2008-Jan-14
CNX SERVICE	SHORT	10.92	2015-Mar-03

Dispersion is around its all-time lows – momentum algos will be struggling to find a toe-hold. Besides, the only thing that has worked in the last few months is long-only pharma and IT – both long USD trades.