Nifty's "Island Reversal" Remains A Headwind
The "Island Reversal" that confirmed in the Nifty 50 and other major indices on May 4th continues to suggest near-term caution, particularly if Nifty can't reclaim the 38.2% retracement of its 2020 decline. In our blog post linked below, we take a look at several charts that suggest further weakness in Equities around the globe could be ahead. We're watching closely to see if these bearish conditions work themselves off through time, or if sellers really take control and begin the market's next leg lower.
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