Archive for January, 2010

Channels.India - Early economic - Elliott and performance cycles

SUMMARY: HDFC DAILY (HDFC) Prices bounce back from key FIB supports near 2,300 levels. Performance cycles are bottoming and suggest further outperformance of HDFC in the weeks ahead. HDFC BANK DAILY (HDBK) Sub key 1,600 we continue to look lower till key 1,450 levels in the (c)/(iii) wave down. Performance cycles are also heading to a performance bottom. ICICI BANK DAILY (ICBK) Our preferred scenario sees this as a complex corrective structure down. The (y) wave down could extend lower till key supports at psychological 700. The bottoming of the performance cycles is also in sync with this view. STATE BANK OF INDIA DAILY (SBI) Prices continue to hold key FIB and trend channel supports at 1,950 levels. We need a clear break here to continue to look lower. Performance cycles are heading to a performance bottom. UNITECH DAILY (UNTE) We need a clear break sub key 64 levels to continue to look lower in the (c)/(iii) wave down. Performance cycles are bottoming and suggest further outperformance of Unitech in the weeks ahead.

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‘Performance cycles’ is a term coined by Orpheus Capitals. This is another name for time triads, time arbitrage, time fractals but expressed in terms of relative performance. It’s a bounded oscillator that moves from 1 to 30. 1 is top relative performance and 30 is worst performance. The idea is that performance is cyclical. A top performer will underperform in future and vice versa. A top relative performer is also the worst value pick and the top relative underperformer is the best value pick.

CHANNELS.INDIA is our second perspective product published on MONDAY, WEDNESDAY and FRIDAY. The report uses conventional technical tools and covers most top traded stocks. The report illustrates key price levels, price targets, price projections and time turn windows. WAVES.INDIA, CHANNELS.INDIA are bundled together as PERSPECTIVE products. Unlike WAVES which focuses more on blue chips, CHANNELS covers the other mid cap and small cap stocks also. CHANNELS.INDIA carries the Early Economic cycle sector components, which includes FINANCIAL and DISCRETIONARY sector stocks, the Mid Economics cycles sector which includes INDUSTRIAL sector stocks and the Late Economic Sector cycle including ENERGY, STAPLES, UTILITIES, PHARMA, CHEMICALS sector stocks. REUTERS EARLY ECONOMIC RICS DLF.NS, HDFC.NS, HDBK.NS, ICBK.NS, SBI.NS, INFY.NS, TCS.NS, MAHM.NS, UNTE.NS, TITN.NS REUTERS MID ECONOMIC RICS ASOK.NS, TAMO.NS, CROM.NS, BHEL.NS, LART.NS, MTNL.NS, IDEA.NS, BRTI.NS, RLCM.NS, TATA.NS REUTERS LATE ECONOMIC RICS ONGC.NS, RLIN.NS, NTPC.NS, ACC.NS, HALC.NS, TISC.NS, ABUJ.NS, CIPL.NS, RANB.NS, ITC.NS

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Alpha.metals - copper hits a performance top and delivers 6% against gold

The copper performance cycle topped as the metal ended its outperformance run against gold and reversed. The pair registered 6% last week (long gold - short copper). Copper, Zinc, Palladium performance cycles have already topped. Silver, Nickel, Uranium performance cycles have turned up. On the pair side long silver - short copper should signal soon. The other pairs running currently are long silver - short gold, long gold - short palladium and long uranium - short gold.

ALPHA is a pair trading, long only - short only strategy and numeric ranking product based on TIME fractals. Time arbitrage, Time Triads, Time fractals are terms coined by Orpheus Research. The signals are carried over three different time frames viz. sub minor (2-3 days), minor (10-30 days) and intermediate (above 30 days). This is a daily signal product. The signals will be illustrated through tracker and running portfolios. Alpha can be used by fund managers for relative allocations, traders for leverage bets and high net worth clients for selective trades. This is a part of the time triads analytics developed by Orpheus Research.

METALS: STEEL, ZINC, NICKEL, TIN, ALUMINIUM, URANIUM, GOLD, SILVER, LEAD

STOP LOSS AND EXITS are activated at 2%

Please feel free to mail us for any clarifications. *This is a strategy product. Long Short strategies are not riskless strategies. Please mail us for a detailed working or consult a local financial risk manager to execute these pairs. For more details please subscribe to the ORPHEUS TIME ANALYTICS research products.

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Solving the Holyhedron

A holyhedron is a polyhedron with each face containing at least one polygon shaped hole. The boundaries of the holes share no point with each other or the boundary of the faces. For example, consider a solid cube with its 6 faces. Next, imagine thrusting a pentagonal rod through 1 face, all the way through the cube to the other side to produce (for example) a pentagonal tunnel, and only 2 of those 11 faces have holes punched in them. Each time we punch a hole, we are creating more faces. The immense challenge to finding a holyhedron is to make the holes such that they eventually punch through more than one face to reduce the number of faces that have no holes.

The holyhedron concept was first introduced by Princeton mathematician John h Conway in the 1990′s, who offered a prize of &10,000 to anyone who could find such an object. He also stipulated that this cash reward would be divided by the number of faces in such an object. In 1997, David W Wilson coined the word holyhedron to indicate a hole filled polyhedron.

Finally, in 1999, American mathematician Jade P. Vinson discovered the world’s first holyhedron specimen with a total of 78,585,627 faces. John Conway has offered a prize of $10000 divided by the number of faces, so this one should be worth approximately $20.3252.

(The Math book, Clifford A. Pickover, PhD Yale)

Domnita and me are a part of Cluj painting club. Last evening we were at the 5 year anniversary. We as capital market researchers don’t make the group as diverse as Dr. S. Istvan. 75 paintings were exhibited. The one above was painted by Istvan. When I saw it, I told him it was a holyhedron. It might look like coincidence but the mathematics we know is a lot about patterns and structures. If there is something mathematical, you will find it in nature. This is why John’s prize money was up for grabs, the moment it was announced. Why is nature mathematical? Because nature is proportional. Nature has all proportions, infinitesimally large and infinitesimally small. Time does not destroy the proportion of nature, even when nature ages, grows and decays. Then why no credit for Time in assisting nature to retain its proportion? Does it not sound intuitive that because Time is proportional, nature mirrors it and mathematics proves it. Time created nature and humans invented mathematics to study and solve the beautiful holyhedron.

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The earthquake science

Earthquake science can be used in markets because of time fractals

The earthquake science working for markets is an opinion as old as the butterfly effect and the study on Sun cycles influencing markets. Xavier Gabaix, assistant professor of economics at MIT, did not say that earthquake causes market behaviour, but that large-scale events in the stock market adhere to distinct patterns which can be witnessed in seismic activity. The MIT professor suggests that economists should borrow the earthquake math from scientists who model natural disasters, the power curve mathematics. The reason that economists are uncomfortable with power laws, says H Eugene Stanley, Boston University is that “unlike the bell curve they are not based on any assumptions about how markets or people work. They are simply curves that fit the data”. Now these ideas are going on since Vilfredo Pareto wrote about the curve first in 1909. Markets are still understanding it and accepting it, 100 years later and we still don’t believe that simple curves rule our life. Human non comprehension of such profound rules and patterns of nature is old news.

The power law

The problem now a century later is that the power law cannot predict when catastrophes happen, but they can predict how often they will occur. According to the Gutenberg-Richter law, for example, an earthquake that is twice as big will be four times as rare. Charles Francis Richter, American seismologist created the Richter magnitude scale. The power law school of thought is not working on the timing problem as they are convinced that power law is not about predicting time, it is just a recurring pattern in nature, which is an unexplainable rule.

Something can’t be understood so it is better to focus on things at hand rather than interpreting the science behind the law of nature. Power law is believed to allow policy-makers to set regulations that better shore up the financial world against extreme events. “It is like Newton’s law of gravity, we don’t understand why it works, it just does, and we use it to build things like rockets,” Stanley says. In short, the scientists have shown that stock markets have a mathematical elegance frequently found in natural systems.

The question here is about the mathematical elegance in everything against the mathematical elegance in time. How can time be inelegant, crude, unsophisticated, unrefined, untasteful, unfashionable and rough? In an interview, Stanley mentioned, “He and his colleagues analysed more than 200 million trades and found that power laws fit better and include the extreme events”. Why did we not test time periods Eugene?

Time decay in earthquakes

According to Plerou and Gopikrishnan, Econophysicists, “Probability of a disastrous economic fluctuation seems to be fairly independent of time period”. Time independence could be an illusion and an idea which could assist physicists to ignore time. In a research published in Seismological letters in February 2007, the authors Mark D Petersen, Tinaquing Cao, Kenneth Campbell and Arthur D Frankek talk about the same earthquake science but from a time dependence aspect. Seismologists are now talking about recurrent time and use elapsed time to calculate earthquake probabilities. Elapsed time is now believed to influence future earthquake events. There is an effort to understand seismic cycles and improve earthquake maps. The researchers say that time dependent models are intuitively appealing.

Though this is an idea in the right direction, it has ground to cover before the scientific community reaches time fractals. We have talked about time decay on prior occasions. This time we are illustrating the time decay in earthquakes. Haiti was in the top destructive earthquakes of all time and has been extensively studied by the US geological survey. We pulled out the minute by minute data from 23 January to 29 January and isolated the time between shocks across the region. The plotted chart was an exponential curve again, suggesting the time (number of days) between shocks was proportionally spread even when smaller time was studied. We get a similar plot when we study earthquake date from 1575 and similar time patterns are seen when we study nuclear tests or any other social and natural activity.

How can time exhibit the same exponential order when the order is believed to be everywhere else? We can either see fractals and patterns all around us, in everything, or accept that time is indeed what gives every living entity, anything which ages, this distinct pattern. Everything from earthquakes, to volcanoes, to cotton prices, to human behaviour and even to the Sun is patterned by time. “When” remains a more important aspect than how often can earthquakes repeat, a crisis occur, a stock rise, or an asset outperform. The focus on “when” can assist us more even if we don’t have a perfect answer. Time is perfect, our interpretation of it can never be.

We started the year attempting to time relative performance. We asked early January, if it was time for Grasim to outperform Nifty? Grasim was at the bottom of numeric rankings on 29 December 2009 and now it is at the top of list. What does this mean? This means that end of December Grasim was ready to outperform Nifty and it did. Long Grasim, short Nifty delivered 13 per cent in January. Now that Grasim has hit a top in rankings, a performance reversal should not be far away, when Grasim starts to underperform Nifty. The anticipated breakdown we have been talking on markets also happened. Metals, small cap and capital goods are ready to underperform the market. Tata Motors and M&M also seem overstretched in performance and should not sustain outperformance against Nifty for long. HDFC’s performance cycles continue to suggest that there is more catch up for the stock against Nifty; the stock should outperform the benchmark. If everything is cyclical like time suggests, research solutions of tomorrow might just simplify things.

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Comment

From E.D.G. February 1, 2010
http://www.freewebz.com/eq-forecasting/Data.html

Hi folks,

I saw one of your recent reports that compared market trends and earthquakes. The Web site listed above is one where earthquakes are actually being predicted. The forecasts are based on relationships between electromagnetic pulses and past earthquakes. Those data can be fairly accurate. A worldwide Earthquake Advisory was circulated on January 11, 2010, the day before the catastrophic Haiti earthquake. At some time, the main forecasting computer program called “Etdprog.exe” will probably also use data related to the time intervals between earthquakes. A different program discussed at the site called “Wave Chart” provides information concerning those types of data. But they are not yet being used in the actual forecasting program.

Regards, E.D.G.


Channels.BVB - Late Economic Update - Japanese Candlesticks

JAPANESE CANDLESTICKS.SUMMARY: TRANSELECTRICA WEEKLY (TEL) Though price has moved in a series of multiple white candles and formed a shooting star, above 16 we continue to remain positive. TRANSGAZ WEEKLY (TGN) Prices broke out of the multi month sideways channel and formed Harami indecisive patterns. We have no reversal in uptrend yet. ALUMIL WEEKLY (ALU) Prices are testing channel highs. Minor trend remains positive. Next key level lies at 2.6. OLTCHIM WEEKLY (OLT) Prices are in a sideways multi week countertrend movement that should find support at 0.618 Fib levels (0.2). PETROL EXPORTIMPORT WEEKLY (PEI) Though small body candles suggest indecision, prices are above key supports at 22. Minor trend remains positive. DAFORA WEEKLY (DAFR) Prices are testing highs at 0.11. We expect resistance at current levels. ROMPETROL WEEKLY (RRC) Prices turn down as anticipated. Minor trend remains negative. PETROM WEEKLY (SNP) A clear break above 0.29 levels is needed to look higher. ANTIBIOTICE WEEKLY (ATB) Key level lies at 0.65. ZENTIVA WEEKLY (SCD) Prices are still in the sideways channel. We need a clear break above 0.7 for a change of trend.

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CHANNELS.BVB is our second perspective product published on MONDAY, WEDNESDAY AND FRIDAY. The report uses conventional technical tools and focuses on stocks more than Indices. The report illustrates key price levels, price targets, price projections and time turn windows. WAVES.ROM and CHANNELS.ROM are bundled together as PERSPECTIVE products. Unlike WAVES which focuses more on blue chips, CHANNELS covers just BVB stocks all mid cap and small cap.

CHANNELS.BVB on MONDAY covers the Early Economic Sector cycle including Financials and Discretionary sector stocks. REUTERS RIC - (BATR.BX, BRDX.BX, BRKU.BX, SIF1.BX, SIF2.BX, SIF3.BX, SIF4.BX, SIF5.BX, BCCA.BX, ASAG.BX, FLAA.BX, EFOR.BX, TUFE.BX, SIPA.BX, ELBU.BX, ERST.BX, IMPT.BX)

Performance cycles is a term coined by Orpheus Capitals. This is another name for time triads, time arbitrage, time fractals but expressed in terms of relative performance. It’s a bounded oscillator that moves in a range say from 1 to 30. 1 is top relative performance and 30 is worst performance. The idea is that performance is cyclical. A top performer will underperform in future and vice versa. A top relative performer is also the worst value pick and the top relative underperformer is the best value pick.

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Alpha.India - Long Grasim, short Nifty delivers 13%

Grasim was at the bottom of rankings on 29 Dec 09 and now it is at the top of the ranking list. What does this mean? This means that end of Dec Grasim was ready to outperform Nifty. Did it outperform? Yes. Long Grasim, short Nifty delivered 13% over the last 30 days. This means 158% non leveraged annualized spot returns. Now that Grasim has hit a top, a performance reversal should not be far away, when Grasim starts to underperform Nifty. We will keep you posted on the same.

Meanwhile the anticipated breakdown we have been talking on markets happened. Banks and Technology pushed lower in rankings. The new top potential underperformer sector is FMCG, followed by Oil which climbed up from much lower rankings. The top potential underperformer sector is metals, preceded by small cap and capital goods. Stock specific, the top two places are unchanged. Grasim and Infosys remain the top underperformer stocks for two weeks in a row. Tata Motors and M&M also seem overstretched in performance and should not sustain outperformance against Nifty for long. HDFC performance cycles continue to suggest that there is more catch up for stock against Nifty. Another financial stock, SBI pushed lower to the end of the list. The latest Alpha India also carries the net change in rankings since 1 Oct 09. Grasim, Infosys were the fastest positive changes while ICBK and Sterlite were the fastest negative changes.


Performance cycles

ALPHA is a pair trading, long only - short only strategy and Numeric Ranking product based on TIME fractals. Time arbitrage, Time Triads, Time fractals are terms coined by Orpheus Research. The signals are carried over three different time frames viz. sub minor (2-3 days), minor (10-30 days) and intermediate (above 30 days). This is a daily signal product. The signals will be illustrated through tracker and running portfolios. Alpha can be used by fund managers for relative allocations, traders for leverage bets and high net worth clients for selective trades. This is a part of the time triads analytics developed by Orpheus Research.

TIME ARBITRAGE portfolio has 18 pairs CNXIT-NIFTY, RELIANCE-NIFTY, TCS-NIFTY, ONGC-NIFTY, INFOSYS-CNXIT, ONGC-RELIANCE, HDBK-ICBK, BHEL-ACC, GRAS-LNT, HLL-ITC, SBI-HDFC, NIFTY-STERLITE, NIFTY-HDBK, SBI-NIFTY, BHEL-NIFTY, NIFTY-ACC, TCS-CNXIT and SBI-HDBK. Minor degree averaged 10-30 days and intermediate degree trade averages above 30 days. The legs should be risk weighted before any implementation. We are assuming a running stop loss of 4% per traded pair. CNXIT/INFOSYS +A-B means LONG CNXIT, SHORT INFOSYS. While CNXIT/INFOSYS –A+B means SHORT CNXIT, LONG INFOSYS.

LONG ONLY, SHORT ONLY portfolio covers NIFTY, CNXIT, NSEBANK, RELIANCE, INFOSYS, ONGC, CIPLA, ICICI BANK, HDFC BANK, TISCO, BHEL, ACC, GRASIM, L&T, HLL, ITC, SBI, HDFC, STERLITE

STOP LOSS AND EXITS are activated at 4%

Performance cycles is a term coined by Orpheus Capitals. This is another name for time triads, time arbitrage, time fractals but expressed in terms of relative performance. It’s a bounded oscillator that moves in a range say from 1 to 30. 1 is top relative performance and 30 is worst performance. The idea is that performance is cyclical. A top performer will underperform in future and vice versa. A top relative performer is also the worst value pick and the top relative underperformer is the best value pick.

*This is a strategy product. Long Short strategies are not riskless strategies. Please mail us for a detailed working or consult a local financial risk manager to execute these pairs. For more details please subscribe to the ORPHEUS TIME ANALYTICS research products.

Time is a social construct and we see time through the life and nature around us. Understanding time can not only give a unifying theory to research of a few thousand years, but also help us understand the world we live in. Time evolves, oscillates and continues. Time comes before everything, but we don’t see it. We just feel it. We believe what we see and this is why understanding what we don’t see is a challenge. Understanding time could bring more than a conventional thought down, it’s a revolution, which could rock the very foundation of economic thought or the geometric structures Euclid laid down in 300 BC. We are at the start of the journey, but if time is indeed the real mathematics, we could see high accuracy in time forecasts.

Econohistory is the study of performance cycles between assets. Cycles are the generic name for time fractals. Performance cycles can be studied for any time frame, for as small as a tick data to multiyear time frames. This objective approach to performance cyclicality can explain why intermarket analysis is an area of study? Why bonds and commodities tend to be inversely related? What is the connection of Oil with world markets? Why the world watches DOW sometimes and sometimes a 500 point effect on DOW seems to have no impact? Why correlation between assets moves from near perfect at times to weak correlation at other times? Why the same news has different impact on a stock or market? Why equities and bond trend together and why the relationship decouples sometime? When will inflation become deflation, disinflation, stagflation or hyperinflation? When and why does gold outperform and underperform silver? Econohistory can objectively answer these questions, using performance cycles, time fractals and past data. Economic history is mathematical.

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Channels.India - Late economic performance cycles

SUMMARY: ONGC DAILY Prices violently pushed lower after completing the second corrective wave up. We need a clear break sub key levels at 1,080 for a negative confirmation. Performance cycles have bottomed and suggest further outperformance of ONGC for the weeks ahead. GRASIM DAILY Ongoing FLAT structure. Key target lies near psychological 2,000 levels. Performance cycles are heading to a performance top. ACC DAILY Prices pushed lower after completing the minor impulse up till 0.382 key FIB supports. We need a clear break here to continue to look lower. Performance cycles are heading to a performance top. TISCO WEEKLY Completing ending diagonal. A clear break at trend channel supports would give us further negative confirmation. Performance cycles are topping. RANBAXY DAILY Prices continue to push lower from anticipated resistances near key 550 levels. Performance cycles are topping.

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‘Performance cycles’ is a term coined by Orpheus Capitals. This is another name for time triads, time arbitrage, time fractals but expressed in terms of relative performance. It’s a bounded oscillator that moves from 1 to 30. 1 is top relative performance and 30 is worst performance. The idea is that performance is cyclical. A top performer will underperform in future and vice versa. A top relative performer is also the worst value pick and the top relative underperformer is the best value pick.

CHANNELS.INDIA is our second perspective product published on MONDAY, WEDNESDAY and FRIDAY. The report uses conventional technical tools and covers most top traded stocks. The report illustrates key price levels, price targets, price projections and time turn windows. WAVES.INDIA, CHANNELS.INDIA are bundled together as PERSPECTIVE products. Unlike WAVES which focuses more on blue chips, CHANNELS covers the other mid cap and small cap stocks also. CHANNELS.INDIA carries the Early Economic cycle sector components, which includes FINANCIAL and DISCRETIONARY sector stocks, the Mid Economics cycles sector which includes INDUSTRIAL sector stocks and the Late Economic Sector cycle including ENERGY, STAPLES, UTILITIES, PHARMA, CHEMICALS sector stocks. REUTERS EARLY ECONOMIC RICS DLF.NS, HDFC.NS, HDBK.NS, ICBK.NS, SBI.NS, INFY.NS, TCS.NS, MAHM.NS, UNTE.NS, TITN.NS REUTERS MID ECONOMIC RICS ASOK.NS, TAMO.NS, CROM.NS, BHEL.NS, LART.NS, MTNL.NS, IDEA.NS, BRTI.NS, RLCM.NS, TATA.NS REUTERS LATE ECONOMIC RICS ONGC.NS, RLIN.NS, NTPC.NS, ACC.NS, HALC.NS, TISC.NS, ABUJ.NS, CIPL.NS, RANB.NS, ITC.NS

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Waves.ROM - BETNG. retesting previous highs


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WAVES.ROM is a perspective product published on TUESDAY’S and THURSDAY’S. The report highlights Romanian Stock Market top three Equity Indices viz. the top ten blue chip BET Index (.BETI), BET Composite (.BETC), the Financial Index BETFI (.BETFI) and the local currency RON (EURRON=, RON=). The products covers the top ten BET component stocks. (ROMP.BX, SNPP.BX, BATR.BX, BRDX.BX, TSEL.BX, ATBE.BX, BRKU.BX, BIOF.BX, IMPT.BX, TUBU.BX) and all the components of BETFI Financial Index(SIF2.BX, SIF5.BX, SIF3.BX, SIF1.BX, SIF4.BX) are covered in the report. The product highlights Primary (Multi Month) and Intermediate (Multi Week) price trends. The report illustrates key price levels, price targets, price projections and time turn windows. The product uses Elliott waves, traditional technical analysis tools, sentiment indicators and other alternative research tools like INTERMARKET to spot outperformers. WAVES.ROM, CHANNELS.BVB and CHANNELS.RASDAQ are bundled together as PERSPECTIVE products. Unlike WAVES which focuses more on blue chips, CHANNELS covers all the BVB and RASDAQ stocks.

Performance cycles is a term coined by Orpheus Capitals. This is another name for time triads, time arbitrage, time fractals but expressed in terms of relative performance. It’s a bounded oscillator that moves in a range say from 1 to 30. 1 is top relative performance and 30 is worst performance. The idea is that performance is cyclical. A top performer will underperform in future and vice versa. A top relative performer is also the worst value pick and the top relative underperformer is the best value pick.

REUTERS COVERAGE .BETFI, TUBU.BX, TSEL.BX, SNPP.BX, SIF5.BX, SIF4.BX, SIF3.BX, SIF2.BX, SIF1.BX, ROMP.BX, IMPT.BX, BRKU.BX, BRDX.BX, BIOF.BX, BATR.BX, ATBE.BX

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Waves.forex - Anticipated eurusd 1,4 break happens

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WAVES.FOREX is a perspective product published TUE and THU. The report highlights the top traded FOREX PAIRS (e.g. Euro, Dollar, Yen, Indian Rupee, Romanian Lei, Swiss Franc and Dollar Index) The product highlights Primary (Multi Month) and Intermediate (Multi Week) price trends. The report illustrates key price levels, price targets, price projections and time turn windows. The product uses Elliott waves, traditional technical analysis tools and sentiment indicators. REUTER RICS: EURRON=, RON=, JPY=, INR=, HUF=, HRK=, GBP=, EURCHF=, CHFRON=, CAD=, =USD, EUR=

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Waves.India - The anticipated breakdown is here

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‘Performance cycles’ is a term coined by Orpheus Capitals. This is another name for time triads, time arbitrage, time fractals but expressed in terms of relative performance. It’s a bounded oscillator that moves from 1 to 30. 1 is top relative performance and 30 is worst performance. The idea is that performance is cyclical. A top performer will underperform in future and vice versa. A top relative performer is also the worst value pick and the top relative underperformer is the best value pick.

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WAVES.IND is a perspective product published on Tuesday and Thursday. The report highlights Indian Stock Market top sectoral Indices and Sensex (BSE 30) viz. BSEOIL, BSESC (Small Cap), BSEMC (Mid Cap), BSEHC (BSE Health Care), BSEPHARMA (Pharmaceuticals), BSECG (Capital Goods), BSEBANK (Banking), CNXIT (Technology), BSEFMCG (FMCG), BSEAUTO (Auto) etc.. The product also covers all the 30 Sensex components. The product highlights Primary (Multi Month) and Intermediate (Multi Week) price trends. The report illustrates key price levels, price targets, price projections and time turn windows. The product uses Elliott waves, traditional technical analysis tools, sentiment indicators and other alternative research tools like INTERMARKET to spot outperformers.

COVERAGE: REUTERS RICS. INDICES. .BSEBANK, .BSEOIL, .NSEI, .BSECG, .BSESN, .BSEAUTO, .CNXIT, .NSEBANK, CITc1, IFc1, .NSEBANK

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