The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq continue to press into new all-time highs. Indices have
accelerated higher off their respective 50-DMA after pulling back to this key moving average nearly two weeks ago. Price action is
currently 2–3% above support at their rising 21-DMA (S&P 500: 4,451; Nasdaq: 14,837). The distribution day count is a non-factor with
only two days on each index, with another day expiring on the S&P 500 later this week.
Author: admin
Won Europe Today
Friday,
- Markets ended marginally higher with only three indices in negative territory and one recording a distribution day.
Norway was upgraded to a Confirmed Uptrend after the index reclaimed its prior high. We remain positive on the
overall market as major markets are in a Confirmed Uptrend. We recommend that investors focus on quality ideas
with high relative strength as they emerge from constructive consolidations. - The Stoxx 600 retook its 10-DMA after breaching it the prior day. The index is in a Confirmed Uptrend with three
distribution days. Oil & Gas, Technology, and Basic Resources stocks outperformed. - Among other major indices, France’s CAC is finding resistance at its 10- and 21-DMA and is trading in an Uptrend
Under Pressure. We would wait for the index to retake its short-term moving averages before upgrading it to a
Confirmed Uptrend. Germany’s DAX rose on lower volume but failed to retake its 10-DMA. The U.K.’s FTSE gained
on higher volume and is in an Uptrend Under Pressure. - Four out of the 17 markets we cover are in an Uptrend Under Pressure and 13 markets are in a Confirmed Uptrend.
- Actionable names in the Focus List include Euronext (ENX.FR; ENX:FP), Keywords (KWS.GB; KWS:LN), and
Halma (HLMA.GB; HLMA:LN).
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq are trading at or near all-time highs, with leadership
expanding across multiple sectors and market caps. Support is at their rising 10- and 21-DMA (S&P 500: 4,469; Nasdaq: 14,809). The
distribution day count stands at three and two, respectively, with two expiring on the S&P 500 this week.
Won Europe Today
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 that they be underweighted
as they may be vulnerable to further downside risk and underperformance. European names highlighted this week include
ProSiebenSat. 1 Media (PSMX.DE; PSM:GR), Accor (AC.FR; AC:FP), Koninklijke Vopak (VPK.NL; VPK:NA), Elekta
(ELKB.SE; EKTAB:SS), and Sodexo (SDX.FR; SW:FP).
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq pulled back to their respective 10-DMA yesterday in lower
volume, avoiding distribution. The overall trend remains intact, and action remains constructive. The distribution day count stands at three
and two, respectively, with two expiring on the S&P 500 next week.
Won Europe Today
Yesterday,
- European markets closed mixed as investors turned cautious ahead of the Federal Reserve’s Jackson Hole
symposium that will start on Thursday as policy makers could provide details on tapering stimulus. Fed Chair
Jerome Powell will speak on Friday. As major indices are holding their key support levels, we are open to adding
risk in strong names breaking out of a long consolidation and would recommend that investors book profit on
extended names. - The Stoxx 600 closed flat. The index is trading above its 21-DMA and is 1% off highs. On the sectoral front, Travel
and Leisure stocks led the gains while Utilities were in the red. - Major indices like France’s CAC and the U.K.’s FTSE 100 closed in the green on lower volume. Germany’s DAX
closed in the red after gaining for three consecutive trading sessions. All the three indices are trading above their
50-DMA. - Of the 17 indices we cover, the majority closed in the green with Ireland leading the gains while Denmark lost the
most. Portugal and Switzerland recorded a distribution day each. The average distribution day count rose to 3.47. - Actionable names in the Focus List include Euronext (ENX.FR; ENX:FP), Keywords (KWS.GB; KWS:LN), Halma
(HLMA.GB; HLMA:LN), and DSV Panalpina (DSV.DK; DSV:DC).
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq rose for a fifth consecutive session and closed at another
all-time high. The first level of support is at the rising 21-DMA (S&P 500: 4,437; Nasdaq: 14,783). The distribution day count remains at
three and two on the S&P 500 and Nasdaq, respectively.
Williams Sonoma
O’Neil Methodology
• Since breaking out of a stage-two cup base in March, the stock is trading
sideways with support at its 50-DMA, 7% away. Currently, it is forming a
stage-three consolidation base and is 12% below the pivot ($194.69)
• Strong fundamental profile: EPS Rank of 96, Composite Rating of 96,
SMR Rating of A. The stock’s performance picked up during the
pandemic due to a strong housing market.
Won Europe Today
Yesterday,
- European markets closed mixed after starting this week in the green as investors keep an eye on the Federal
Reserves’s Jackson Hole symposium that will start on Thursday and look for comments made by Fed Chair
Jerome Powell. As major indices are holding their key support levels, we are open to adding risk in strong names
breaking out of a long consolidation and would recommend that investors book profit on extended names. - The Stoxx 600 closed marginally in the red, down 0.02%. The index is trading above its 21-DMA and remains in a
Confirmed Uptrend with three distribution days. - Major indices like Germany’s DAX and the K.’s FTSE 100 closed in the green on higher volume. France’s CAC
closed in the red with luxury stocks being the major decliners. All the three indices are trading above their 50-DMA. - Of the 17 indices we cover, the majority closed in the green with Luxembourg leading the gains while Denmark,
Spain, and Switzerland lost the most and recorded a distribution day each. We didn’t change market condition for
any of the indices. The average distribution day count rose to 3.35. - Actionable names in the Focus List include Euronext (ENX.FR; ENX:FP), Keywords (KWS.GB; KWS:LN), Halma
(HLMA.GB; HLMA:LN), and DSV Panalpina (DSV.DK; DSV:DC).
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq remain at all-time highs after finding strong support at their
respective 50-DMA last week. Distribution remains a non-factor at just three and two days, respectively.
