The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq pulled back on below average volume and continue to
digest strong gains from the prior two weeks. Support is at the rising 10- DMA (S&P 500: 4,084, Nasdaq: 13,722), followed by the sharply
rising 21-DMA. The distribution day count increased to three on the S&P 500 and remained at four on the Nasdaq.
Author: admin
Won Europe Today
Yesterday,
- European markets continued to consolidate, with most major indices moving sideways. Distribution count across indices
remains low. We remain open to adding risk with names coming out of proper bases on decisive volume. - The Stoxx 600 gained more than 0.1% after finding support at its rising 10‐DMA. The index remains in a Confirmed Uptrend
with four distribution days. Among sectors, Semiconductor stocks led the gains, Travel & Leisure advanced about 1%, while
Bank and Utility stocks lagged. - Among other major indices, France’s CAC formed a downside reversal bar and looks really extended here. Germany’s DAX
continued to consolidate around 15,250 price levels. The U.K.’s FTSE continued to trade above its 10‐DMA. - Among the 17 indices that we track, Switzerland, Portugal, Spain, and Belgium closed in negative territory, with Switzerland
recording its fourth distribution day. - Actionable names in the Focus List include Ambu B (AMB.DK; AMBUB:DC), Carl Zeiss Meditec (AFXX.DE; AFX:GR),
Interpump Group (IP.IT; IP:IM), Schneider Electric (QT@F.FR; SU:FP), Trigano (TRI.FR; TRI:FP), Straumann Holding
(STMN.CH; STMN:SW), Eurofins Scientific (EUF.FR; ERF:FP), Gn Store Nord (GSN.DK; GN:DC), and Dassault Systèmes
(DSY.FR; DSY:EN).
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 made another new all-time high, remaining at its upper channel line,
while the Nasdaq is now trading within 1% of a new high after another strong session yesterday. The 10- and 21-DMA continue to rise and
may act as near-term support should indices pull back. The distribution day count stands at two and four, respectively.
Won Europe Today
We released our European Weekly Summary yesterday, click here to access the report. Key points from it include:
- The Stoxx 600 remains in a Confirmed Uptrend with four distribution days. The index was up 1.8% last week, completing six
weeks of gains, its longest weekly winning streak since November 2019. - With more broad‐based strength in the market, reflected in the overall increasing numbers of stocks breaking out of
consolidation, we monitor sectors showing improving short‐term momentum. This week, our focus is on Capital Equipment.
Stocks of interest include Bravida Holding (BRAV.SE; BRAV:SS), Schneider Electric (QT@F.FR; SU:FP), and Legrand (LRRS.FR;
LRP:EB). - Over the past five days, we have added one stock – Pandora (PND.DK; PANDORA:DC).
Won Global View
The U.S. market remains in a Confirmed Uptrend. Indices pulled back slightly and are consolidating after last week’s strong rally. The
S&P 500 is testing its upper channel line near ~4,100, while the Nasdaq is forming the right side of a nine-week consolidation and has
picked up a distribution day in the process. The first level of support for both indices is at the rising 10-DMA (S&P 500: 4,060,
Nasdaq:13,625). The distribution day count stands at two and four days, respectively.
Won Europe Today
Yesterday, we published our Weekly European Summary, click here to access the report. Key points from the report:
- The Stoxx 600 remains in a Confirmed Uptrend with five distribution days. The index is constructively trading along its short‐
term moving averages and recently closed above its February 2020 high. - Of the 17 indices that we cover, 12 are in a Confirmed Uptrend and five in an Uptrend Under Pressure. We shifted Austria
and Belgium to a Confirmed Uptrend. - Since March 2020 lows, divergence between sectors is at an extreme level. Thus, we are monitoring lagging staples names
that are still trading far from their 52‐week highs but are showing short‐term technical improvement. - Over the past five days, we did not make any changes to our Focus List.
- Actionable names in the Focus List include Interpump Group (IP.IT; IP:IM), Sika (SIKA.CH;SIKA:SW), Schneider Electric
(QT@F.FR; SU:FP), Straumann Holding (STMN.CH; STMN:SW), Eurofins Scientific (EUF.FR; ERF:FP), and Teleperformance
(ROFR.FR; TEP:FP).
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq closed down very slightly, trading in narrow daily ranges.
The Nasdaq held Monday’s break above resistance at ~13,600. Both indices avoided distribution. The distribution day count stands at
three and five on the S&P 500 and Nasdaq, respectively, with one day having expired on the S&P 500 after yesterday’s close. Two days
will expire on the Nasdaq this week (Wednesday close and Thursday close).
Won Europe Today
On Thursday,
- European markets closed higher on strong economic data from the region and on the news of a new multitrillion dollar
infrastructure plan by the U.S. However, rising COVID‐19 cases and third lockdown in France limited market gains. European
markets were closed on Friday and Monday on account of Good Friday and Easter Monday. We remain constructive on the
markets and are open to adding names coming out of proper bases with good volume. - The Stoxx 600 closed higher gaining 0.61%. The index closed above its Feb 2020 highs and is moving higher along its rising
10‐DMA. The majority of sectors closed in the green, led by Technology. - Major indices like Germany’s DAX, France’s CAC, and the U.K.’s FTSE 100 closed in the green on lower volume. Germany’s
DAX gained the most, hitting a new all‐time high. - Of the 17 indices that we track, all of them closed in the green except Spain. Austria and Belgium were shifted to a
Confirmed Uptrend after both reclaimed prior highs. Twelve out of 17 indices are now in a Confirmed Uptrend. - Actionable names in the Focus List include Interpump Group (IP.IT; IP:IM), Sika (SIKA.CH; SIKA:SW), Schneider Electric
(QT@F.FR; SU:FP), Straumann Holding (STMN.CH; STMN:SW), Eurofins Scientific (EUF.FR; ERF:FP), and Teleperformance
(ROFR.FR; TEP:FP).
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 gapped up into all-time highs while the Nasdaq broke above resistance
at ~13,600. Both indices closed near session highs, albeit on below average volume. The distribution day count stands at four and five on
the S&P 500 and Nasdaq, respectively, with one day expiring on the S&P 500 after the close.
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 moved back into all-time highs last week, while the Nasdaq narrowly
regained its 50-DMA. The Nasdaq now faces resistance at ~13,600, with support still at the rising 100-DMA (12,958). The distribution day
count declined last week, now standing at four on the S&P 500 and five on the Nasdaq, with multiple additional days also set to expire this
week.
