We released our Weekly Global Laggards Report today. Click here to access the full 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 stocks include Barratt Redrow (BTRW.GB; BTRW:LN), Danone (BSN.FR; BN:FP), and Nokia (NOK1.FI; NOKIA:FH).
Author: Deepashree MC
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq closed 10–30bps higher, ending at a new all-time high.
The first level of support is at the rising 10-DMA (6,212/20,370), followed by the 21-DMA (6,133/20,053). The distribution day count stands
at five and four, respectively, with one day set to expire on each index after the close today.
Won Europe Today
Yesterday,
- European markets closed at a four-week high, lifted mainly by bank stocks, as investors awaited developments in the U.S.-EU trade negotiations. Optimism had increased after the deal deadline was moved to August 1. However, uncertainty still exists as the U.S. has ruled out further extensions and has signaled steep new tariffs on pharmaceuticals, semiconductors, and copper.
- Among key movers on the Stoxx 600, shares of Norwegian firm Kongsberg (KOG.NO; KOG:NO) fell 12% after the company’s earnings drew concern from analysts over certain soft spots. Meanwhile, shares of EssilorLuxottica (EI.FR; EL:FP) rose 5.6% amid reports that Meta has bought a nearly 3% stake in the company.
- The Stoxx 600 booked a gain of 0.8% and continued to trade above all its key moving averages. Next resistance is at its June high (+0.4%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
- Among sectors, Banks (+190bps), Automobile & Parts (+120bps), and Oil & Gas (+86bps) were the top gainers. Basic Resources (-72bps), Food & Beverage (-39bps), and Telecommunications (-24bps) lagged the most.
- Among major indices, France’s CAC 40 gained 1.4% on higher volume and reclaimed its 100-DMA. Next resistance is at its May high (+0.8%). Germany’s DAX 30 advanced for the third straight session and closed 1.4% higher. It is trading above all its key moving averages and is at its all-time high. The U.K.’s FTSE 100 gained 0.2%. It is trading above all its key moving averages. Next resistance is at its June high (+0.2%).
- Thirteen of the 16 markets we track closed in the green. Seven are in a Confirmed Uptrend, four in an Uptrend Under Pressure, and five in a Rally Attempt.
- Germany and Austria were shifted to a Confirmed Uptrend from an Uptrend Under Pressure after the indices reclaimed their previous rally high. Italy was upgraded to a Confirmed Uptrend from a Rally Attempt after the index reclaimed its previous rally high.
- All 24 European Focus List names are trading above their 200-DMA, while 21 names are trading above their 50-DMA.
- Norway recorded its second distribution day. The average distribution day count stood at 3.3.
- Actionable names in the Focus List include Alk-Abello B (ALK.DK; ALKB:DC), Medicover B (MEDI.SE; MCOVB:SS), Lottomatica Group (LOTG.IT; LTMC:IM), Bawag Group (BWGP.AT; BG:AV), Nemetschek (Xet) (NEMX.DE; NEM:GR), and SAP (Xet) (SAPX.DE; SAP:GR).
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 gained ~60bps, while the Nasdaq closed ~95bps higher. Indices are
trading just below/at their 52-week high, with the first level of support at their rising 10-DMA (6,197/20,312), followed by their 21-DMA
(6,118/19,995). The distribution day count stands at five and four, respectively, with one day set to expire on each index after the market
close on Friday.
Won Europe Today
Yesterday,
- European markets closed higher, driven by gains in healthcare and energy stocks, even as investors weighed the impact of escalating U.S. trade tensions. The new U.S. tariff plan targets 14 nations with duties as high as 40%, though a delay in the reimposition until August 1 gives countries a brief window to renegotiate terms, prolonging uncertainty around global trade.
- The Stoxx 600 gained 0.4% and reclaimed its 50-DMA. Next resistance is at its June high (+1.2%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
- Among sectors, Automobile & Parts (+157bps), Basic Resources (+123bps), and Oil & Gas (+112bps) were the top gainers. Retail (-72ps), Utility (-60bps), and Telecommunications (-48bps) lagged the most.
- Among major indices, France’s CAC 40 advanced for the second straight session and closed 0.6% higher. It reclaimed its 50-DMA and has next resistance at its 100-DMA(+0.1%). Germany’s DAX 30 also recorded its second consecutive session of gains and rose 0.6%. It is trading above all its key moving averages. Next resistance is at its June high (+0.3%). The U.K.’s FTSE 100 rose 0.5% after reclaiming its 21-DMA. Next resistance is at its June high (+0.2%).
- Fourteen of the 16 markets we track closed in the green. Four are in a Confirmed Uptrend, six in an Uptrend Under Pressure, and six in a Rally Attempt.
- All 24 European Focus List names are trading above their 200-DMA, while19 names are trading above their 50-DMA.
- Belgium reported its fourth distribution day. The average distribution day count stood at 3.2.
- Actionable names in the Focus List include Galderma (GALD.CH; GALD:SW), Alk-Abello B (ALK.DK; ALKB:DC), Medicover B (MEDI.SE; MCOVB:SS), Safran (SGM.FR; SAF:FP), Lottomatica (LOTG.IT; LTMC:IM), Nemetschek (Xet) (NEMX.DE; NEM:GR), and SAP (Xet) (SAPX.DE; SAP:GR).
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 was down ~10bps, while the Nasdaq closed relatively flat. The first
level of support is at their rising 10-DMA (6,183/20,246), followed by their 21-DMA (6,104/19,933). The distribution day count stands at five
and four, respectively
Won Europe Today
We released our European Weekly Summary yesterday. Click here to access the full report. Key points from it include:
- European markets ended the past week on a mixed note, mostly moving sideways near their short-term moving averages. Portugal rallied 3.4% to a new 52-week high, while Germany, Ireland, Austria, and the Netherlands saw declines of about 1%. Denmark and Switzerland are still trading below their major moving averages, while France is testing support at its 200-DMA.
- Among sectors, Energy (+1.9%), Consumer Staple (+1.7%), and Consumer Cyclical (+1.4%) led the gains. Utility, Retail, and Health Care saw smaller gains of 0.3–0.7%. Leading financials are still consolidating. European luxury stocks have recovered from their recent lows but are already facing resistance.
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq declined 80–90bps on higher d/d volume, registering a
distribution day each. The first level of support is at their rising 10-DMA (6,173/20,208), followed by their 21-DMA (6,092/19,885). The
distribution day count increased to five and four, respectively.
Won Europe Today
On Friday,
- European markets closed in negative territory, dragged down by weakness in banking and mining stocks. Investor sentiment remained cautious ahead of the end of the 90-day U.S. tariff pause, as major trade partners like the EU have yet to finalize trade agreements.
- The Stoxx 600 was down 0.5%. The index breached its 100-DMA but closed slightly above the moving average. It was testing support at its 50-DMA. We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
- Among significant movers on the Stoxx 600, shares of German defense equipment manufacturer Rheinmetall (RHMX.DE; RHM:GR) closed 3% higher after a raise in its price target.
- Among sectors, Health Care (+101bps) and Utility (+17bps) posted gains, while Mining (-145bps) and Retail (-144bps) lagged the most.
- Among major indices, France’s CAC 40 fell 0.75%, breaching its 50-DMA, and closed slightly above its 21-DMA. Support is at its 200-DMA. Germany’s DAX 30 closed 0.6% lower. The index tested support at its converging 21- and 50-DMA. The U.K.’s FTSE 100 ended flat, with immediate support at its 21-DMA.
- Denmark recorded Day 2 of its Rally Attempt.
- Thirteen of the 16 indices we track closed in the red. Four are in a Confirmed Uptrend, six in a Rally Attempt, and six in an Uptrend Under Pressure. The average distribution day count stands at 3.2.
- All the 23 European Focus List names are trading above their 200-DMA, while 11 ideas are trading above their 50-DMA.
- Actionable names in the European Focus List are Alk-Abello B (ALK.DK; ALKB:DC), Safran (SGM.FR; SAF:FP), and Medicover B (MEDI.SE; MCOVB:SS).
Won Global View
The U.S. market remains in a Confirmed Uptrend. On Thursday, the S&P 500 and the Nasdaq gained 80–100bps on lower d/d volume.
The first level of support is at the rising 10-DMA (6,160/20,161), followed by the 21-DMA (6,078/19,832). The distribution day stands at
four and three, respectively.
