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 Symrise (SY1.DE; SY1:GR), Ambev On (AVS.BR; ABEV3:BZ), Hufvudstaden (HUA.SE; HUFVA:SS), and Deutsche Post (DHLX.DE; DHL:GR).
Author: Deepashree MC
Won Global View
The U.S. market remains in an Uptrend Under Pressure. The S&P 500 and Nasdaq were down 4bps and 5bps, respectively, on high
d/d volume each and trading 1% off highs. Support is at their respective 21-DMA (5,996/19,643). The distribution day count on each index
stands at three and four, respectively.
O’Neil Consumer/Retail Weekly
Consumer Staples (XLP): The index has lost 3.3% in the past four sessions. It has breached support at its 200-DMA for the first time
after January. Support is at its July low of $77.2 (-2%). RS line is trending downward, with a low RS rating of 53, and worst-possible
Acc/Dist Rating of E.
Won Global View
The U.S. market remains in an Uptrend Under Pressure. The S&P 500 and Nasdaq were up 110bps and 135bps, respectively, on lower
d/d volume each, and trading 1% off highs. Support is at their respective 21-DMA (5,992/19,606). The distribution day count on each index
stands at three and four, respectively.
Won Europe Today
We released our European Weekly Summary yesterday. Click here to access the report. Key points from it include:
- European markets extended their losses last week, driven by weak economic sentiment across the region and broader global market downturns. All sectors ended in the red, with Health Care and Basic Materials declining the most.
- On the rotation charts, most sectors weakened, with Financials and Capital Equipment slowing, while Cyclicals and Basic Materials showed short-term momentum. Retail weakened sharply, and Consumer Staples, Transportation, and Health Care declined further.
Won Global View
The U.S. market remains in an Uptrend Under Pressure. The S&P 500 was up 73bps after finding support at its 50-DMA, while the
Nasdaq rose 98bps, regaining its 21-DMA on low volume. The distribution day count on each index stands at three and four, respectively.
Won Europe Today
On Friday,
- European markets closed lower, weighed down by concerns over the U.S. political turmoil and global monetary policy developments. Sentiment was further hit by President-elect Donald Trump’s warning to the EU, threatening tariffs unless it increases imports of U.S. oil and gas, intensifying fears of escalating trade tensions.
- Among key movers in the Stoxx 600, Novo Nordisk (NON.DK; NOVOB:DC), dropped 20.8% after its next-generation weight loss drug failed to meet trial expectations, while Zealand Pharma (ZEA.DK; ZEAL:DC), fell 3.8% after the U.S. FDA rejected its bowel disease drug.
- The Stoxx 600 continued its decline and closed 0.9% lower. It is trading below all key moving averages with near-term support at November 19 lows. We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
- The overall sector performance was negative, with Healthcare (-376bps), Banks (-77bps), and Telecommunications (-69bps) leading the declines. Meanwhile, Travel & Leisure (+56bps) and Retail (+52bps) were the top gainers.
- Among major indices, France’s CAC 40 lost 0.3%, and currently trades below all its key moving averages. It has immediate resistance at its 21-DMA (+0.5%) while support is at its November 27 lows (-2%). Germany’s DAX 30 fell 0.4%, breaching its 21-DMA support. Next support is at its 50-DMA (-1.4%). The U.K.’s FTSE 100 continued its downward trajectory, and registered a loss of 0.3%. Near-term support for the index is at November 12 lows (-0.7%).
- Germany was shifted to an Uptrend Under Pressure from a Confirmed Uptrend after the index breached its 21-DMA support level. It registered its fourth distribution day.
- Denmark was moved to a Downtrend from an Uptrend Under Pressure as the index hit new low.
- Sweden was shifted to a Downtrend from a Rally Attempt after the index made a new low.
- Thirteen of the 16 indices we track closed in the red. Eight are in a Rally Attempt, one in an Uptrend Under Pressure, and seven in a Downtrend. The average distribution day count stood at 4.
- Of the 29 European Focus List names, 26 ideas are trading above their 200-DMA, while 19 ideas are trading above their 50-DMA.
- Actionable names in the Focus List include Lottomatica Group (LOTG.IT; LTMC:IM), Pandora (PND.DK; PNDORA:DC), Technogym (TGYM.IT; TGYM:IM), and Schneider Electric (QT@F.FR; SU:FP).
Won Global View
The U.S. market remains in an Uptrend Under Pressure. The S&P 500 and Nasdaq were down 2.0% and 1.8%, respectively, last week.
The S&P 500 breached its 21-DMA and then its 50-DMA for the first time in three months. It then retook and closed slightly above the 50-
DMA (5,927). Next support would be around 3% lower at the 100-DMA (5,752). The Nasdaq breached its 21-DMA but held well above the
50-DMA. It retook and closed above the 21-DMA and 3% above the 50-DMA (19,040). The distribution day count on each index stands at
three and four, after one expired on the S&P 500 after Friday’s close.
Won Global View
The U.S. market remains in an Uptrend Under Pressure. The S&P 500 and Nasdaq were down 9bps and 10bps, respectively. The S&P
500 failed to retake its 50-DMA (5,924) and has next support at the 100-DMA (5,748; -3%). The Nasdaq found resistance at its 21-DMA
(19,550) and has next support at the rising 50-DMA (19,016; -2%). The distribution day count on each index stands at four, with one
expiring on the S&P 500 after today’s close.
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 Akzo Nobel (AKZA.NL; AKZA:NA)
and Exor NV (EXOO.NL; EXO:NA).
