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Won Europe Today

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Yesterday,

  • European markets had a positive day with most major indices bouncing off the 21-DMA or reclaiming their 21-DMA.
    We recommend that investors book profits in extended names and remain open to adding stocks coming out of
    proper bases.
  • The Stoxx 600 found support at its rising 21-DMA, finding resistance at its all-time high. All the sectors closed in
    positive territory with Technology shares gaining more than 1.5%.
  • Among other major indices, France’s CAC continued to find supply at its 21-DMA while Germany’s DAX and the
    U.K.’s FTSE 100 found support at their respective 21-DMA.
  • Among the 17 major indices that we track in Europe, only Portugal closed in negative territory. Norway was
    upgraded to a Confirmed Uptrend after it reclaimed its prior rally high.
  • De Longhi (DLG.IT; DLG:IM) has turned actionable after breaking out of a stage-two base. Interroll (INRN.CH;
    INRN:SW) also turned actionable after breaking out of a stage-three consolidation. Other actionable stocks in the
    Focus List include Halma (HLMA.GB; HLMA:LN), JD Sports Fashion (JD.GB; JD/:LN), Ashtead Group (AHT.GB;
    AHT:LN), and Airbus (AIRS.FR; AIR:FP).

Won Global View

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The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq made new all-time highs for a second straight week,
closing above 10- and 21-DMA support while avoiding distribution. The overall trend remains constructive, though the S&P 500 is now
approaching its upper channel line, which has risen above 4,600. The distribution day count stands at one and two, respectively, with one
day expiring on the Nasdaq this week.

Won Europe Today

Posted on by admin

On Friday,

  • European markets had a weak day as most major markets recorded distribution days. Major indices have broken
    below their 21-DMA or are testing their 21-DMA support levels. We recommend booking profits in extended names
    and are open to adding risk in names coming out of proper bases.
  • The Stoxx 600 lost more than half a percent, recording its fourth distribution day. The index broke below its 21-DMA
    and remains in a Confirmed Uptrend. Among sectors, Travel & Leisure lost more than 0.9% while Banks declined
    more than 0.7%.
  • Among other major indices, France’s CAC broke below its 21-DMA while Germany’s DAX tested its 50-DMA before
    paring off some of its losses. Both France’s CAC and Germany’s DAX recorded their third and fifth distribution day,
    respectively. The U.K.’s FTSE 100 is testing its 21-DMA.
  • Among the 17 indices that we track, only Ireland closed in positive territory. Six indices recorded distribution days.
    The average distribution day count stands at 3.4.
  • Actionable names in the Focus List include Halma (HLMA.GB; HLMA:LN), Sports Fashion (JD.GB; JD/:LN),
    Ashtead Group (AHT.GB; AHT:LN), and Airbus (AIRS.FR; AIR:FP).

Won Europe Today

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We released our Weekly Global Laggards Report yesterday (please click here to access the report). The stocks
highlighted in this report are laggards relative to their own domestic markets. We recommend they be underweighted as
they may be vulnerable to further downside risk and underperformance. European names highlighted this week include
Autoliv Sdb (ALI.SE; ALIV:SS), Genting Singapore (GINT.SG; GENS:SP), Jyske Bank (JYS.DK; JYSK:DC), WH Smith
(SMWH.GB; SMWH:LN), and Ericsson B (SL@G.SE; ERICB:SS).

Won Global View

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The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq traded relatively flat yesterday, holding constructively near
all-time highs and digesting a very strong two-week move off 50-DMA support. The 10- and 21-DMA remain near-term support levels for
both indices. The distribution day count declined to one and two days, respectively, with one day expiring on the Nasdaq next week.

Won Europe Today

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Yesterday,

  • European markets were on track to reach new highs on hopes of a fresh stimulus, which offset concerns about
    rising inflation. All markets, barring two, ended in positive territory. We recommend investors add names breaking
    out of proper bases and reduce exposure to stocks breaking below their 21- or 50-DMA on higher volume.
  • The Stoxx 600 bounced off its 10- and 21-DMA, but volume was lower. Oil & Gas and Auto stocks ended in the red,
    while Travel & Leisure stocks outperformed. The index is in a Confirmed Uptrend with four distribution days.
  • Among the other major indices, France’s CAC retook its 10- and 21-DMA on below average volume, while
    Germany’s DAX underperformed and failed to reclaim its 10- and 21-DMA. The U.K.’s FTSE gained on lower
    volume and remains in an Uptrend Under Pressure.
  • Market status remains unchanged for all markets.
  • Actionable names in the Focus List include Keywords ( KWS.GB; KWS:LN ), Halma ( HLMA.GB; HLMA:LN ),
    Euronext ( ENX.FR; ENX:FP ), JD Sports Fashion ( JD.GB; JD/:LN ), Ashtead Group ( AHT.GB; AHT:LN ), and Airbus ( AIRS.FR; AIR:FP ).

Won Europe Today

Posted on by admin

Yesterday,

  • European markets ended in negative territory on concerns about the Eurozone inflation data released yesterday.
    Markets rose for the seventh consecutive month with Technology stocks outperforming. Only three of the 17 indices
    closed in the green. Norway was again downgraded to an Uptrend Under Pressure after it was upgraded last week.
    The index breached its 50-DMA on good volume. Five markets are in an Uptrend Under Pressure while the
    remaining are in a Confirmed Uptrend. We maintain a positive view of the overall market, but the rise in inflation
    would exert some pressure.
  • The Stoxx 600 recorded a distribution day, declining on good volume and finding support at its 10- and 21-
    DMA. Technology was the most resilient, ending in the green, while Basic Resources led the losses. The index is in
    a Confirmed Uptrend with four distribution days.
  • Among other major indices, France’s CAC found support at its 50-DMA and avoided a distribution day. Germany’s
    DAX breached its 10-DMA and is trading slightly above its 21- and 50-DMA. The U.K.’s FTSE returned after a
    holiday and ended lower on higher volume. It recorded a distribution day, taking the count to three.
  • Portugal outperformed all the European markets, gaining more than 140bps.
  • Actionable names in the Focus List include Keywords (KWS.GB; KWS:LN), Halma (HLMA.GB; HLMA:LN),
    Euronext (ENX.FR; ENX:FP), JD Sports Fashion (JD.GB; JD/:LN), Ashtead Group (AHT.GB; AHT:LN), and Airbus
    (AIRS.FR; AIR:FP).

Won Global View

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The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq traded relatively flat yesterday, consolidating gains
constructively near all-time highs in lower volume. Support remains the rising 10- and 21-DMA on both indices. The distribution day count
stands at two each, with one expiring on the S&P 500 after tomorrow’s close

Won Europe Today

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We released our Weekly European Summary yesterday (please click here to access the report). Key points include:

  • The Stoxx 600 gained 89bps last week after closing in red the previous week. It is currently 1% off highs and is in a
    Confirmed Uptrend.
  • Of the 17 indices we cover, 13 are in a Confirmed Uptrend and four in an Uptrend Under Pressure. We upgraded
    Norway to a Confirmed Uptrend. The average distribution day count has come down to 3.71 compared with 4 last
    week.
  • Our rotation chart continues to show accelerating short-term momentum among Utilities and Energy.
  • We added Euronext (ENX.FR; ENX:FP) to our Focus List. Other actionable names in the Focus List include
    Keywords (KWS.GB; KWS:LN) and Halma (HLMA.GB; HLMA:LN).