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Won Europe Today

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Yesterday,

  • European markets continued to extend their gains, making higher highs. Markets look extended and might be due
    for a short-term pullback. Distribution day count remains low. We remain bullish on the markets and are open to
    adding risk coming out of proper bases.
  • The Stoxx 600 further gained 0.2%, rising for the ninth straight session. It continues to trade constructively above its
    10-DMA and is in a Confirmed Uptrend. Among sectors, Utilities and Health Care stocks led the gains, while Banks
    and Auto stocks lagged.
  • Among the other major indices, France’s CAC and the U.K.’s FTSE 100 look slightly extended from their respective
    10-DMA, while Germany’s DAX is testing support at its 10-DMA.
  • Among the 17 indices we track in Europe, Austria, Germany, Spain, and Luxembourg closed in negative territory,
    with Spain recording its fourth distribution day.
  • New addition Soitec (SI.FR; SOI:FP) is actionable after breaking out of a double-bottom base. Other actionable
    names in the Focus List include Paragon Banking Group (PAG.GB; PAG:LN), Yougov (YOU.GB; YOU:LN), Intesa
    Sanpaolo (ISP.IT; TRI:FP), Carl Zeiss Meditec (AFXX.DE; AFX:GR), Cellnex Telecom (CLNX.ES; CLNX:SM),
    Trigano (TRI.FR; TRI:FP), AirBus (AIRS.FR; AIR:FP), Interroll (INRN.CH; INRN:SW), and EQT (EQT.SE; EQT:SS).

Won Global View

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The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq pulled back on slightly higher volume but recovered off
session lows and continue to consolidate at or near session highs. Near-term support remains the rising 10- and 21-DMA on both indices.
The distribution day count increased to four on the Nasdaq and remained at five on the S&P 500, as yesterday’s distribution was offset by
a day that expired.

Won Europe Today

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Yesterday,

  • European markets again pared gains to close near their lows, with most of the major indices forming downside reversals. However, they are still trading above their key moving averages with a low distribution day count. We remain bullish on the markets and are open to adding risk coming out of proper bases.
  • The Stoxx 600 closed near its low after paring initial gains. It has formed two consecutive downside reversals, indicating there might be a short-term pullback. Among sectors, Basic Resources fell more than 2%, while Chemical and Insurance stocks led the gains. Banks were flat.
  • Among the other major indices, France’s CAC and Germany’s DAX continue to trade above their respective 10-DMA. The U.K.’s FTSE 100 continues to make new highs along its rising 10- DMA.
  • Of the 17 indices we track in Europe, Austria, Finland, Ireland, Norway, Spain, Sweden, Luxembourg, and Italy closed in negative territory. Five indices recorded distribution days.
  • Actionable names in the Focus List include Paragon Banking Group (PAG.GB; PAG:LN), Yougo (YOU.GB; YOU:LN), Intesa Sanpaolo (ISP.IT; ISP:IM), Carl Zeiss Meditec (AFXX.DE; AFX:GR), Cellnex Telecom (CLNX.ES; CLNX:SM), Trigano(TRI.FR; TRI:FP), AirBus (AIRS.FR; AIR:FP), Interroll (INRN.CH; INRN:SW), and EQT (EQT.SE; EQT:SS).

JUBILANT FOODWORKS

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  • The stock advanced more than 3% today and broke out of a 13-week
    long consolidation base. It is trading in the buy range of INR 3,216–
    3,377. Immediate support is at its 21-DMA (5% away) followed by its 50-
    DMA (11% away).
  • • Fundamental ratings are good and expected to improve further, given
    the ongoing economic recovery. EPS Rank of 82, Composite Rating of
    63, and SMR Rating of B.
  • • Technical ratings are strong and indicate buying interest. Up/Down
    Volume ratio of 1.5x and an A/D Rating of A-. A weak RS Rating of 44
    due to the 13-week consolidation phase is expected to improve, given
    the stock’s strong breakout after results. The number of funds holding
    the stock has nearly doubled in the last two years.

Won Europe Today

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Key points from it include:-

  • The Stoxx 600 is in a Confirmed Uptrend with two distribution days. Of the 17 indices we cover, 14 indices are in a
    Confirmed Uptrend and three in an Uptrend Under Pressure. The average distribution day count is down to 3
    compared with 3.65 the previous week.
  • Health Care (+4.1% last week) led the gain. Although the sector is still underperforming the general market over the
    last 26 weeks, improvement in short-term momentum has gathered pace. From our Focus List, Carl Zeiss Meditec
    (AFXX.DE; AFX:GR) is actionable.
  • New Focus List Additions of the Week: Paragon Banking Group PLC (PAG.GB; PAG:LN).

Won Global View

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The U.S. market is in a Confirmed Uptrend. The S&P 500 is consolidating near all-time highs and above its 21-DMA. The Nasdaq
continues to form the right side of a base and is few points below all-time high resistance (14,211). The distribution day count has fallen to
five and two, respectively, with another day expiring on S&P 500 after the close tomorrow.

O’Neil Consumer/Retail Weekly

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Consumer Cyclical (XLY): The index is trading below 50-DMA which has become a strong resistance for the index.
Support is at $165. The RS Rating is at 45 and has a poor A/D Rating of E. We would advice caution and would turn
positive once the index retakes its 50-DMA on strong volume.

Won Europe Today

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Friday,

  • European markets continued to make new highs and trade constructively above their key moving averages.
    Distribution day count across indices remains low. We remain bullish on the markets and are open to adding risks
    coming out of proper bases.
  • The Stoxx 600 continues to trade constructively above its 10-DMA. It looks slightly extended on its daily charts and
    might trace back to its 21-DMA in the upcoming sessions. Among sectors, all closed in the green, with Basic
    Resources advancing 2%.
  • Among other major indices, France’s CAC, Germany’s DAX, and the U.K.’s FTSE 100 all are trading constructively
    after finding support at their respective 10-DMA. All of them are in a Confirmed Uptrend with a low distribution day
    count.
  • All the 17 indices we track in Europe closed in positive territory.
  • Actionable names in the Focus List include Paragon Banking Group (PAG.GB;
    PAG:LN), Yougov (YOU.GB; YOU:LN), Intesa Sanpaolo (ISP.IT; ISP:IM), Carl Zeiss Meditec (AFXX.DE; AFX:GR),
    Cellnex Telecom (CLNX.ES; CLNX:SM), Trigano(TRI.FR; TRI:FP), AirBus (AIRS.FR; AIR:FP), Interroll
    (INRN.CH; INRN:SW), and EQT (EQT.SE; EQT:SS).

Won Global View

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The U.S. market is in a Confirmed Uptrend. The S&P 500 is again trading at all-time highs, while the Nasdaq is trading within 1% of its
all-time resistance at 14,211. Near-term support remains the rising 21- and 50-DMA, respectively. The distribution day count stands at six
and three, respectively, with two expiring on the S&P 500 and one on the Nasdaq this week. Each index has only added one distribution
day in the last three weeks.