The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq jumped 2–3% last week and regained their 50-DMA (5,583;
17,493), along with an improvement in quality ideas setting up. The next level of resistance is at their 200-DMA (5,746; 18,317).
Author: Deepashree MC
Won Europe Today
We released our Weekly Global Laggards Report today. 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 stocks include Svenska Cellulosa Aktiebolaget (SW@G.SE; SCAB:SS) and InterContinental Hotels Group (IHG.GB; IHG:LN).
Won Global View
The U.S. market is in a Confirmed Uptrend. The S&P 500 rose for the eighth consecutive session but closed near session lows, ending
63bps higher on lower d/d volume. The Nasdaq gained 152bps and also closed near session lows on lower d/d volume. Indices reclaimed
their 50-DMA (5,591; 17,532), which will now act as support. Next resistance is at their 200-DMA (5,746; 18,320).
Won Global View
The U.S. market is in a Confirmed Uptrend. Despite a weak opening, the S&P 500 rose for the seventh consecutive session and ended
15bps higher on higher d/d volume. The Nasdaq opened ~2% lower and closed near the top of the day’s range, ending 9bps lower on
lower d/d volume. Indices bounced off their 21-DMA (5,449; 16,997) support and are approaching their declining 50-DMA resistance
(5,602; 17,579), with next resistance at their 200-DMA (5,746; 18,324).
Won Europe Today
Yesterday,
- European markets closed higher for a sixth straight session, supported by financial stocks following earnings reports from HSBC and Deutsche Bank. Investor focus remained on how companies are interpreting the potential impact of U.S. tariffs and global economic uncertainty, which could shape market direction ahead.
- Among key movers on the Stoxx 600, shares of HSBC (HSBA.GB; HSBA:LN) rose 3% after the company announced a $3B share buyback, despite cautioning about potential risks amid U.S. trade tensions. Shares of Deutsche Bank (DBKX.DE; DBK:GR) gained 5% on a 39% jump in Q1 profit, while shares of BP (BP.GB; BP/:LN) fell 2.4% after the company reported a larger-than-expected 48% y/y decline in net profit and the exit of its strategy chief.
- The Stoxx 600 continued its positive momentum and booked a gain of 0.4%. Next resistance is at its 100-DMA (+0.7%), followed by its 50-DMA (+1.7%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
- Among sectors, Banks (+141bps), Health Care (+136bps), and Utility (+115bps) were the top gainers, while Food & Beverage (-22bps) and Oil & Gas (-12bps) lagged the most.
- Among major indices, France’s CAC 40 closed 0.3% lower. Support is at its 10-DMA (-1.3%), followed by its 21-DMA (-2%). Germany’s DAX 30 advanced 0.7%, bouncing off its 50-DMA. It was above all its key moving averages. Next resistance is at its April high (+0.5%). The U.K.’s FTSE 100 reclaimed its 100-DMA and closed 0.5% higher. Next resistance is at its 50-DMA (+0.4%).
- Thirteen of the 16 markets we track closed in the green. Ten are in a Confirmed Uptrend and six in a Rally attempt.
- France recorded its first distribution day. The average distribution day count stood at 1.2.
- All the 13 European Focus List names are trading above their 200-DMA, while 12 ideas are trading above their 50-DMA.
- Actionable names in the European Focus List: 3i Group (III.GB; III.LN), Relx (REL.GB; REL:LN), Games Workshop (GWA.GB), Spie (SPIE.FR; SPIE:FP), and Swissquote ‘R’ (SQN.CH; SQN:SW).
Won Global View
The U.S. market is in a Confirmed Uptrend. The S&P 500 rose for the sixth consecutive session and ended 58bps higher on higher d/d
volume. The Nasdaq gained 55bps on higher d/d volume. Indices are approaching their declining 50-DMA resistance (5,613; 17,631), with
next resistance at their 200-DMA (5,746; 18,328) and support at their respective 21-DMA (5,437; 16,952).
Won Europe Today
We released our European Weekly Summary yesterday. Click here to access the report. Key points from it include:
- The Stoxx 600 was upgraded to a Confirmed Uptrend last Wednesday after it rose 1.79% on higher volume, meeting a key technical threshold. France, Germany, and Austria also recorded a follow-through day and were upgraded to a Confirmed Uptrend.
- Sector performance was largely positive last week, led by Consumer Cyclical (+4.3%), driven by Autos, Basic Material (+4.1%), and Technology (+3.7%). Consumer Staple (+0.8%) and Utility (-0.1%) lagged. Sector Score Cards highlight emerging leadership in Consumer Cyclical, Capital Equipment, and Financial, as many stocks are breaking out or advancing from their recent bases.
Won Global View
The U.S. market is in a Confirmed Uptrend. The S&P 500 closed 6bps higher on higher d/d volume. The Nasdaq closed in the upper
half of its range but 10bps lower on higher d/d volume. Indices are approaching their declining 50-DMA resistance (5,624; 17,682), with
support at their respective 21-DMA (5,425; 16,901).
Won Europe Today
On Friday,
- European markets ended the week at a three-week high, supported by renewed hopes of easing U.S.-China trade tensions. Reports of China lifting some tariffs on U.S. goods and signals from the White House about possible negotiations have boosted investor sentiment. The developments could reduce trade-related uncertainty, particularly benefiting export-heavy European sectors.
- Among key movers on the Stoxx 600, shares of Safran (SGM.FR; SAF:FP) rose ~4% after the company posted better-than-expected Q1 revenue and reaffirmed its full-year outlook. Shares of Mapfre (MAP.ES; MAP:SM) gained 8% following a 28% y/y rise in its Q1 net profit, while shares ofEdenred (EDEN.FR; EDEN:FP) fell 9.8% on concerns over potential regulatory changes to employee benefits in Brazil.
- The Stoxx 600 booked a gain of 0.4%. The index tested resistance at its 200-DMA. Next resistance is at its 100-DMA (+1.6%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
- Among sectors, Banks (+128bps), Travel & Leisure (+123bps), and Oil & Gas (+94bps) were the top gainers, while Telecommunications (-173bps) and Food & Beverage (-156bps) lagged the most.
- Among major indices, France’s CAC 40 closed 0.4% higher. The index was trading above its short-term moving averages and has immediate resistance at its 200-DMA. Next resistance is at the 100-DMA (+2.3%). Germany’s DAX 30 rose 0.8% and reclaimed its 50-DMA. Next resistance is at its April high (+1.3%). The U.K.’s FTSE 100 ended the session flat. Resistance is at its 100-DMA, followed by its 50-DMA (+1.1%).
- Fourteen of the 16 markets we track closed in the green. Ten are in a Confirmed Uptrend and six in a Rally Attempt.
- Denmark recorded its second distribution day. The average distribution day count stood at 1.5.
- All the 10 European Focus List names are trading above their 200-DMA, while nine ideas are trading above their 50-DMA.
- Actionable names in the European Focus List are 3i Group (III.GB; III:LN) and Relx (REL.GB; REL:LN).
Won Global View
The U.S. market is in a Confirmed Uptrend. On Friday, the S&P and Nasdaq gained 74bps and 126bps and closed at session highs for
the second day in a row. They are approaching their rolling 50-DMA resistance (5,636; 17,734) with support at their 21-DMA (5,415;
16,855).
