 Hello, traders at CMC Markets. Welcome to a new update by RRG Research for Monday, the 11th of September. My name is Julius de Campanar and I am presenting to you from Amsterdam in the Netherlands and recording this video on Friday morning. So let's start with a look at the rotations of various world market indices. I have the weekly RRG on the left hand side and the daily RRG on the right hand side. And what I use to do or what I try to do is to see if I can find tails that are confirming each other. Because they usually give a little bit more confirmation, a little bit more trust in a potential trade. So when we look at these RRGs here, so this is the weekly. The ones that catch my eye for example are the Hang Seng and the Footsie to a lesser degree, the Stocks Index. These are all rotating upward and if you look on the right hand side of the graph, then you can see how Nifty, S&P, Nasdaq, Nikkei, New York Fang are all losing relative momentum. So it looks as if there is at least a momentum move going on on the weekly timeframe. They're not moving much on the RS ratio scale. If we move over to the daily RRG then we can find a little bit more detail for those moves. And two that really stand out are the Hang Seng, HSI and the Footsie. And they are confirming what's going on here on that weekly RRG. So I'm interested in looking at those charts. On the right hand side of the daily RRG I see the Nikkei moving into the leading quadrant after rotation through weakening. And it looks as if the Nifty 50 in India is just turning back up before hitting lagging. And when you see where those tails are on the weekly then you can see that Nifty is inside the leading quadrant but losing momentum. You can see that right here. And the Nikkei index is going through a weaker rotation, a weakening rotation, but you can see how the last week that seems to be leveling off. And there is a bit of room for the Nikkei to actually turn back up, which would definitely be possible with the daily tail pushing really hard into the leading quadrant. So the Nikkei and the Nifty I'd like to look at as well. Let's bring those rotations to their individual price charts. Let's start with the Hang Seng index. If you look here, you can see how the Hang Seng. And you can see that by the RS ratio line being long term below 100, like in a real relative downtrend. Had a little bit of hiccup then went down, but you can now see how the green RS momentum line is moving back up above 100. And that is getting in line with that rotation. So it looks as if there is a longer term rotation going on in favor of the Hang Seng index and we're comparing this to the MSCR world, by the way. From a price perspective, there is support around 17,500. I think there's resistance at the level of that last high, which is in the gap area, which is between 18,800 and 19,000. From a relative perspective, this index, this market seems to be picking up. If you look at the FTSE index in the UK, you can see a bit of similar pattern. Longer term relative downtrend on a performance, a little hiccup going down again, but you can see how the price stayed above that horizontal support area around 70 to 50. There are still lower highs coming in. That's a bit of a caveat, I would say. But if we manage to take out 7,500 to the upside in combination with the continuing improvement of relative strength, and then the Nica index better because it is already on the right hand side of the RRRG and it went through a weakening rotation. It's now starting to pick up, and you can see that here. You can see a clear difference between the charts of the HSI and the FTSE that we just looked at. Here you can see how the red RS ratio line is already above 100. That positions that tail on the right hand side of the graph. And you can see how a little dip in momentum occurred slightly below 100. That's the rotation through the weakening quadrant. And it's now going back up again, pushing both RRRG lines above 100 further into the leading quadrant. And if we look at the price chart, you can see how this is actually a pretty strong move off of that support area. And if we can take out, the first level is probably 33,500. And in here is let's say 33,750. That would definitely open up the way for more upside in the Japanese stock market. And then finally, for the world indexes, the Nifty 50, probably I'd argue the best of those four. If you look at the Router Strength line, you can see how this is still moving slightly lower. The RS ratio line is moving slightly lower, but the RS momentum has already put in a little low, a little bottom. It's starting to push up and that's causing that tail to sort of shave against that 100 level here in the RS ratio level on the right hand side of the graph inside the weakening quadrant. But when I combine that with the price chart, which is completing a small bottom formation after a nice run up, correction, bottom formation, and we're breaking out out of that bottom formation, that opens up the way for at least a further move towards the recent high, that's the old time high, around 20,000. But it also suggests that there is more upside under way for the Indian stock market, at least for the Nifty 50 in this case. Let's take a look at the New York Fang stocks. The weekly ROG on the left, daily on the right, and the one tail that immediately stands out, at least for me, is Google. On the weekly, it's moving strongly into the improving quadrant, strong heading, and almost crossing over into the leading quadrant. And if you look at the tail on the daily ROG, you can see that it is inside weakening and starting to curl back up. And we know that that is usually a pretty good sign. So that's a stock that I would like to keep an eye on. Then there's a few others that are worth looking at. If you look at NVIDIA, that's inside weakening on the weekly tail, and it's rotating out of leading, almost rotating out of leading on the daily ROG. So that suggests that there is a bit more weakness to come in NVIDIA. Kind of the same story goes for Tesla, with a long weekly tail moving down, just crossing over into the weakening quadrant. And on the daily, it's inside leading, but it's already starting to roll over. That's not very supportive. Obviously, we do need to watch Apple, because here you can see, and let me blow that up, how a big hidden Apple actually caused that rapid reverse, even on the weekly tail. So when it happens on the weekly tail, you can be sure that there was a significant move. And you can see how that happened on the daily over the last few days, right here, when that tail started to curl over and rotate down and pointing down again. We need to look at Apple as well. And then there's two stocks that, I mean, Snowflake is inside the lagging quadrant, but look at the tail, look at how that kind of the reverse of what Apple did. Snowflake rotated right back up. And if I look at the daily tail for Snowflake, it's actually gradually moving nicely towards the leading quadrant. So that suggests pretty good performance for Snowflake going forward while the daily and the weekly tails are actually lining up. And then there's one stock which looks really nice on the daily, that's Netflix, moving straight into the leading quadrant. If you look at the weekly, it's not all that good. But I'm going to look at the chart anyway, because I think it's an interesting chart with possibilities. So let's have a look at those individual charts. If we start with Google, then you can see how the daily is rolling over. And you can see how that, this is the improvement that we're seeing on that RRG that's magnifying such a move. And with the RRG well above the 100 level, it is very likely that we can get a low in here and get a rotation leading, weakening back to leading. And especially when you bring in the price chart where you can see that Google actually or Alphabet took out the previous high, made a new high and is now testing that previous high as support. So that is suggesting that a new rally off of that support level is now underway. If we look at Netflix, then the one that's intriguing me is this gradual improvement in terms of relative strength. That's a good thing. And especially when you combine that with the price pushing against overhead resistance, I'm going to use like say 450 as a trigger to reenter into Netflix because that is where a lot of overhead resistance is. It's in the gap area that we saw back in January 2022. So there's definitely a lot of supply in this area where we can take that out starting with, well, what would that be 450? That'd be a good first sign for further improvement in Netflix. This is a little bit more shorter term because the weekly tail is rolling over. But in the near term, especially when 450 can be taken out, that would be supportive for a further rise in Netflix. And Snowflake is the other one, which is a stock that has been in a relative downtrend for a long time. We had a few rotations, lagging, improving back to lagging. That's what's happening here when that RS ratio line remains below 100. And then the RS momentum line oscillates around it. But right now you saw the confirmation of both tails on the daily and the weekly ROGs. And when I combine that with what I see on the price chart is where I see higher lows coming in, a serious overhead resistance level around 160 and a really strong day yesterday. So if we can take out, let's say 160 or if you want to go for the extreme, let's say 162, combined with that strong relative strength, it probably opens up the way for a move to the 190 area. That's a nice gain and it could be the start of something bigger. We don't know that yet, you never know. But you've got to start somewhere. And the near term suggests that Snowflake is ready to take out 160 to the upside, put in a new rally, confirmed by relative strength over the New York Fang Index itself. And then on the more negative side of things, we have NVIDIA, obviously a stellar performer. Well, since when? Since October 2022, look at that move. And here is that this is the area of the old time high with that big gap that we saw. And we're now, we're slowing down. There's no doubt about it. This NVIDIA is slowing down. We try to break out to another new old time high. We manage that, but then we come, we're coming back below that breakout level, usually not the best thing. And we're now resting at support around 450. Not very strong, just a few bars here. But I'm going to use that as a trigger, especially when 450 can be taken out on the downside. I think that opens up the way for a further decline towards 404, 400. Let's say 400, 405 maybe. And especially the rollover of relative strength is suggesting that NVIDIA has now trouble keeping up with the New York Fang Index, with the other stocks in the New York Fang Index. So the combination of ROG lines rolling over, pushing NVIDIA into the weakening quadrant with a break below 450 is likely going to trigger a little bit more downside and weakness inside NVIDIA versus the New York Fang Index. And then finally, Apple, big name of course, a lot of news, big, big down day. And what you see here that there is actually quite a bit of damage done to this chart. We actually saw the break out of this channel with a big gap. We ended at support, that was nice, and we rallied off of that support. But then the recent high here around 190 was smack in the middle of that gap, at the top of that gap area, which is now resistance. We put in a lower high, and then we had that big move lower. And we're kind of holding up above 170, but look at the relative strength. The strength has been damaged. The chart has been damaged. So the near-term outlook for Apple, as far as I'm concerned, is not very strong. We could get a rally back up to 180, which is the top of the gap area that you see right here. But please watch out when Apple drops below 171, 50, 170 for sure, because that opens up a lot of downside potential for Apple. That would be in line with the weakness that we're currently seeing in the RRG lines and in the relative strength of Apple versus the New York Fang Index. And I'm going to leave it at this for this week. Thank you for watching this update by RRG Research, and I'm looking forward to seeing you again next week, same time, same place.