Author: Deepashree MC

Won Europe Today

Posted on by Deepashree MC

On Friday,

  • European markets closed mixed but wrapped up the month with gains. Sentiment remained cautious as the U.S. accused China of violating a preliminary trade agreement, reigniting global trade war concerns. On the economic front, U.S. inflation eased slightly to 2.1% in April, coming in below expectations, while early reports indicated a cooling of inflation in Germany in May.
  • Among key movers in the Stoxx 600, shares of French pharma group Sanofi (SQ@F.FR; SAN:FP) fell ~5% after the company’s experimental drug failed to meet certain conditions.
  • The Stoxx 600 closed 0.1% higher, recovering from its losses in the past two sessions. It was testing support at its 21-DMA. Near-term resistance is at its 10-DMA. We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • Among sectors, Health Care (+138bps) and Utility (+81bps) led the gains, while Technology (-57bps) and Travel and Leisure (-50bps) lagged the most.
  • Among major indices, France’s CAC 40 declined 0.4% on higher volume, marking its fourth consecutive session of losses. The index breached its 21- and 100-DMA and has near-term support at its 50-DMA.Germany’s DAX 30 was up 0.3% after having declined in its previous sessions. It was testing support at its 10-DMA. The U.K.’s FTSE 100 closed 0.6% higher, rebounding from earlier losses. The index was hitting fresh two-month highs.
  • Sweden and Finland recorded their second distribution day, while Ireland logged in its third. France increased its distribution day count to eight.
  • Sweden was shifted to an Uptrend Under Pressure from a Confirmed Uptrend. Denmark was closed on account of a market holiday.
  • Nine of the 16 indices we track closed in the green. Eleven are in a Confirmed Uptrend, three in a Rally Attempt, and two in an Uptrend Under Pressure. The average distribution day count stands at 3.58.
  • All the 21 European Focus List names are trading above their 50- and 200-DMA.
  • Actionable names in the European Focus List are Bawag Group (BWGP.AT; BG:AV), Games Workshop (GAW.GB; GAW:LN), RELX (REL.GB; REL:LN), Sap (SAPX.DE; SAP:GR), Premier Foods (PFD.GB; PFD:LN), and 3i Group (III.GB; III:LN).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq rose 1.9% and 2.0%, respectively, last week. Indices are
still testing resistance near 5,970/19,200 and have immediate support at their rising 21-DMA (5,802/18,624). The distribution day count
remains at three and two, respectively.

U.S. Economic Summary

Posted on by Deepashree MC

Q1 GDP second estimate show first contraction since Q1 2022: Per second estimate, the U.S. economy
contracted 0.2% y/y in Q1, better than estimates of 0.3% y/y contraction and reversing from 2.4% y/y
growth in Q4 FY24. Consumer spending grew 1.2% y/y, the least since Q2 2023, while federal government
expenditure fell 4.6% y/y, the sharpest drop since Q1 2022. Fixed investments surged 7.8% y/y, the most
since mid-2023]

Won Global View

Posted on by Deepashree MC

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq were up ~40bps each on mixed volume yesterday. The S&P 500
closed in the middle of the trading range on lower volume, while the Nasdaq pulled back from intraday highs and closed in the lower half
on higher volume. Indices are still testing resistance near 5,970/19,200 and have immediate support at their rising 10-DMA (5,869/18,958).
The distribution day count remains at three and two, respectively.

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European stocks closed lower as investor sentiment remained cautious amid ongoing trade negotiations with the U.S. and mixed economic data from the region. Despite tentative signs of easing tensions, the unpredictable nature of U.S. trade policy under the new administration continued to weigh on market confidence. Meanwhile, continued price pressures and policy uncertainty have increased expectations of a European Central Bank rate cut next week, further weighing on investor sentiment.
  • Among key movers on the Stoxx 600, shares of Elekta (ELKB.SE; EKTAB:SS) rose 5.9% after the company reported better-than-expected Q4 FY25 sales, while shares of Kingfisher (KGF.GB; KGF:LN) fell 3.6% as its Q1 FY26 results disappointed investors.
  • The Stoxx 600 ended the session 0.6% lower and breached its 10-DMA. It has next support at its rising 21-DMA (-0.9%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • Among sectors, Basic Resources (-134bps), Retail (-118bps), Telecommunications (-98bps), and Health Care (-92bps) lagged the most. Automobiles & Parts (+61bps) and Oil & Gas (+17bps) were the only sectors that closed in the green.
  • Among major indices, France’s CAC 40 faced resistance at its 10-DMA and declined 0.5%, breaching its 100-DMA. It found support at its 21-DMA. Next support is at its 50-DMA (-1.3%). Germany’s DAX 30 pulled back slightly from its all-time high and closed 0.8% lower. It tested support at its 10-DMA, with next support at its 21-DMA (-2%). The U.K.’s FTSE 100 fell 0.6% and took support at its 10-DMA. Next support is at its 21-DMA (-1.2%).
  • Fourteen of the 16 markets we track closed in the red. Twelve indices are in a Confirmed Uptrend, one in an Uptrend Under Pressure, and three in a Rally Attempt.
  • France and Belgium recorded their seventh distribution day. Denmark registered its fifth distribution day, while Ireland and the Netherlands recorded their second. The average distribution day count stood at 3.3.
  • All 21 European Focus List names are trading above their 50- and 200-DMA.
  • Actionable names in the European Focus List: Bawag Group (BWGP.AT; BG:AV), Rolls-Royce Holdings (RR.GB; RR/:LN), Sap (Xet) (SAPX.DE; SAP:GR), RELX (REL.GB; REL:LN), and Games Workshop (GAW.GB; GAW:LN).

Won Global View

Posted on by Deepashree MC

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq had a downside reversal yesterday, declining ~50–55bps on
lower volume. Indices are testing resistance near recent highs (5,970; 19,200) and have immediate support at their rising 10-DMA (5,859;
18,910). The distribution day count remains at three and two, respectively.

Won Global View

Posted on by Deepashree MC

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq gained more than 2% yesterday on higher d/d volume and
reclaimed their 10-DMA (5,853; 18,868). The S&P 500 rebounded from its 200-DMA support (5,776; -2%) and has immediate resistance
near the 5,970 level. The Nasdaq retook its 10-DMA and faces immediate resistance near the 19,200 level. The distribution day count
remains at three and two, respectively.

Won Europe Today

Posted on by Deepashree MC

We released our European Weekly Summary yesterday. Click here to access the report. Key points from it include:

  • The Stoxx 600 posted its first weekly decline in six weeks, down ~75bps, with three distribution days added. Despite the pullback to its 10- and 21-DMA, the index remains constructive, holding above its key medium- and long-term averages.
  • Denmark was upgraded to a Confirmed Uptrend, while France was downgraded to an Uptrend Under Pressure.
  • Defensive sectors outperformed, with Utility (+2.4%), Consumer Staple (+0.8%), and Health Care (+0.4%) in the green. Consumer Cyclical (-4.1%) led the decline, followed by Energy (-3.0%) and modest losses across Transportation, Financials, and Retail, among others.

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European markets closed higher after the U.S. postponed the 50% tariffs on EU goods to July 9, allowing more time
    for trade talks. Meanwhile, investors are shifting money from U.S. markets to Europe and Asia amid rising concerns
    over a possible U.S. recession and its potential to trigger a broader global slowdown.
  • Among key movers on the Stoxx 600, shares of Thyssenkrupp (TKAX.DE; TKA:GR) surged 8.8% after reports
    emerged over the weekend that the company plans to hold a shareholder meeting on August 8 to approve the spinoff of its warship unit.
  • The Stoxx 600 booked a gain of 1% and reclaimed its 10-DMA. It is trading above all its key moving averages and
    has immediate resistance at its May high (+0.7%). We recommend a selective approach to adding names on a
    high-volume breakout or decisive retake of their key moving averages.
  • Among sectors, Automobiles & Parts (+192bps), Basic Resources (+175bps), Health Care (+156bps), and Banks
    (+141bps) were the top gainers. There were no losers.
  • Among major indices, France’s CAC 40 jumped 1.2% and reclaimed its 21- and 100-DMA. Immediate resistance is
    at its 10-DMA (+0.4%), followed by its May high (+1.4%). Germany’s DAX 30 surged 1.7% and reclaimed its 10-
    DMA. It traded above all key moving averages. Immediate resistance is at its all-time high (+0.6%).
  • Fifteen of the 16 markets we track closed in the green. The U.K.’s market was closed on account of Spring Bank
    Holiday.
  • Twelve indices are in a Confirmed Uptrend, one in an Uptrend Under Pressure, and three in a Rally Attempt.
  • All 20 European Focus List names are trading above their 200-DMA, while 19 names are trading above their 50-
    DMA.
  • Actionable names in the European Focus List: Bawag Group (BWGP.AT; BG:AV), Rolls-Royce Holdings (RR.GB;
    RR/:LN), Sap (Xet) (SAPX.DE; SAP:GR), RELX (REL.GB; REL:LN), and Games Workshop (GAW.GB; GAW:LN).