Author: Deepashree MC

Won Europe Today

Posted on by Deepashree MC

On Friday,

  • European markets ended the week lower as worries over expensive tech valuations resurfaced and defense stocks
    fell on signs that peace talks in Ukraine were moving forward. Investors focused on the progress of a new U.S.-
    drafted plan to end the Russian war in Ukraine, which included cuts to Ukraine’s military aid and significant land
    concessions. President Volodymyr Zelensky said that Ukraine would not compromise its national interests. U.S.
    tech shares saw some stabilization after Thursday’s decline, while expectations of a Fed rate cut next month
    improved sentiment.
  • Among key movers on the Stoxx 600, shares of CTS Eventim (EVDX.DE; EVD:GR) rose 11.8% after the company
    reported strong Q3 results and appointed a new CFO.
  • The Stoxx 600 fell 0.3% and tested support at its 100-DMA. Next resistance is at its 50-DMA (+0.8%). We
    recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key
    moving averages.
  • Among sectors, Food & Beverages (+222bps), Travel & Leisure (+148bps), and Chemicals (+118bps) were the
    major gainers, while Oil & Gas (-222bps), Technology (-205bps), and Basic Resources (-87bps) lagged the most.
  • Among major indices, France’s CAC closed flat after bouncing off its 100-DMA. The index is facing strong
    resistance at its 50-DMA (+0.6%). Support is at its 200-DMA (-1.7%). Germany’s DAX fell 0.6%. The index is trading
    below all its key moving averages, with next support at its June low (-0.2%). The U.K.’s FTSE gained 0.2% and
    tested support at its 50-DMA. Next resistance is at its 21-DMA (+1.7%).
  • Eleven of the 16 markets we track closed in the red. Two markets are in a Confirmed Uptrend, nine in an Uptrend
    Under Pressure, and five in a Downtrend.
  • France was shifted to a Downtrend from a Rally Attempt after the index hit a new low. The Netherlands was
    downgraded to a Downtrend from an Uptrend Under Pressure after the index breached its 100-DMA.
  • The Stoxx 600 recorded its seventh distribution day, while Denmark and Austria logged in their second. The
    average distribution day count stood at 4.27.
  • All 13 European Focus List names are trading above their 200-DMA, while nine names are trading above their 50-
    DMA.
  • Actionable names in the Focus List include Alk-Abello B (ALK.DK; ALKB:DC), Odfjell Drilling (ODDR.NO;
    ODL:NO), and Technogym (TGYM.IT; TGYM:IM).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Downtrend. The S&P 500 and Nasdaq had downside reversals yesterday, declining 156–215bps on
higher d/d volume. The indices closed below Tuesday’s low, thereby resetting the rally attempt count. A follow-through day (+1.7% on
higher d/d volume) can occur on Wednesday at the earliest. The S&P 500 closed below its 100-DMA (6,544), while the Nasdaq closed
marginally above its 100-DMA (22,038).

Won Europe Today

Posted on by Deepashree MC

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 Howden Joinery Group (HWDN.GB;
HWDN:LN), Davide Campari Milano (CPR.IT; CPR:IM), Choc. Lindt & Spruengli Par (LISP.CH; LISP:SW), Verbund
(VERB.AT; VER:AV), and BT Group (BT,A.GB; BT/A:LN).

Won Global View

Posted on by Deepashree MC

The U.S. market remains in a Downtrend. The S&P 500 and Nasdaq were up 38–59bps on lower d/d volume, marking the first day of an
attempted rally. Immediate resistance is at the 50-DMA (6,712/22,878), followed by the 10-DMA (6,719/22,922). A follow-through day
(+1.7% on higher d/d volume) could occur as early as Monday, assuming Tuesday’s lows hold.

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European markets ended mixed, recovering slightly from the sharp losses in the previous session. Investor
    sentiment improved on expectations that Nvidia would surpass Wall Street forecasts with strong AI chip-driven
    sales growth. However, the aerospace and defense sector weakened amid reports of a renewed U.S.-led effort to
    end the Russia–Ukraine war.
  • On the economic front, the U.K.’s inflation slowed for the first time since May, boosting hopes of a rate cut, while
    attention turned to the upcoming U.S. labor market report.
  • The Stoxx 600 ended flat. The index is testing resistance at its 50-DMA and has support at its 100-DMA. We
    recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key
    resistance levels.
  • Among key movers on the Stoxx 600, shares of Finland-based telecom company Nokia (NOK1.FI; NOKIA:FH) fell
    ~7% after the company’s long-term financial targets missed expectations.
  • Among sectors, Travel and Leisure (+145bps) and Mining (+77bps) were the top gainers, while Utility (-140bps) and
    Telecommunications (-105bps) lagged the most.
  • Among major indices, France’s CAC 40 closed 0.1% lower. The index is testing support at its 100-DMA. Next
    support is at its 200-DMA. Germany’s DAX 30 ended flat and is trading below all its key moving averages.
    Immediate support is at its mid-June low. The U.K.’s FTSE 100 pulled back ~0.5% and closed in line with its 50-
    DMA.
  • The U.K. and Finland recorded their fifth and sixth distribution day, respectively. Norway and Portugal hit new lows.
  • Eight of the 16 indices we track closed in the green. Two are in a Confirmed Uptrend, 10 in an Uptrend Under
    Pressure, three in a Downtrend, and one in a Rally Attempt. The average distribution day count stands at 4.58.
  • Actionable names in the European Focus List are Siemens Energy (ENRX.DE; ENR:GR) and Technogym
    (TGYM.IT; TGYM:IM).

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European markets mirrored Wall Street’s downturn, closing lower amid renewed weakness in the technology
    sector due to concerns linked to AI stocks. Investor worries deepened over stretched tech valuations, fragile market
    breadth, and the sustainability of underlying AI growth drivers.
  • The Stoxx 600 closed 1.8% lower on higher volume. The index broke below its 50-DMA and hit a one-month low.
    Next support is at its 100-DMA. We recommend a selective approach to adding names on a high-volume breakout
    or decisive retake of their key resistance levels.
  • Among key movers on the Stoxx 600, shares of British online supermarket group Ocado (OCDO.GB; OCDO:LN)
    fell more than 17% after the company’s U.S. partner Kroger mentioned closing its automated warehouses in
    January. Meanwhile, shares of German electric equipment maker Siemens Energy (ENRX.DE; ENR:GR) closed
    6.4% lower.
  • All sectors closed in the red, with Automobile (-302bps) and Banks (-289bps) lagging the most.
  • Among major indices, France’s CAC 40 gapped down ~1.9% on higher volume. The index broke below support at
    its 50-DMA. Next support is at its 100-DMA. Germany’s DAX 30 declined 1.6% and hit fresh lows. The index
    breached support at its 200-DMA and is below all its key moving averages. The U.K.’s FTSE 100 closed 1.3% lower
    and failed to reclaim its 21-DMA. It is testing support at its 50-DMA.
  • Sweden and Italy were shifted to an Uptrend Under Pressure from a Confirmed Uptrend, while Portugal was
    downgraded to a Downtrend from an Uptrend Under Pressure as these indices breached their 50-DMA.
  • Ireland, Spain, and Belgium were shifted to an Uptrend Under Pressure from a Confirmed Uptrend as the indices
    breached their 21-DMA.
  • Germany and Norway were shifted to a Downtrend from a Rally Attempt as both indices hit new lows.
  • Denmark was shifted to an Uptrend Under Pressure from a Confirmed Uptrend.
  • Ten of the 16 indices recorded a distribution day. Sweden leads the count, with nine distribution days.
  • All the 16 indices we track closed in the red. Two are in a Confirmed Uptrend, 10 in an Uptrend Under Pressure,
    three in a Downtrend, and one in a Rally Attempt. The average distribution day count stands at 4.4.
  • Actionable name in the European Focus List is Siemens Energy (ENRX.DE; ENR:GR).

Won Global View

Posted on by Deepashree MC

The U.S. market has been downgraded to a Downtrend. The S&P 500 and Nasdaq declined 0.8–1.2% and breached support near
intraday lows of November 7 (6,631/22,563). Indices have the next level of support near the rising 100-DMA (6,536/21,997). We will be
looking for either a new follow-through day or for indices to move back into new highs before upgrading back to a Confirmed Uptrend. A
follow-through day (a gain of 1.7% or more on higher d/d volume) can occur as early as Monday.

Won Global View

Posted on by Deepashree MC

The U.S. market remains in an Uptrend Under Pressure. The S&P 500 declined 92bps on higher d/d volume, registering its third
distribution day, while the Nasdaq declined 84bps on lower d/d volume. Both indices closed below their 50-DMA for the first time since May
and now have immediate support near the intraday lows of November 7 (6,631/22,563). The distribution day count stands at three and five,
respectively, with one day set to expire on the S&P 500 after tomorrow’s close.

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 rallied ~2% in the previous week. However, it has pulled back recently and broke below its 21-DMA
    and has been shifted to an Uptrend Under Pressure. Immediate support is at 50-DMA.
  • Defensive sectors like Staples and Health Care have showed strong momentum amid volatility, while Capital
    Equipment and Technology saw slight deterioration.

Won Global View

Posted on by Deepashree MC

The U.S. market remains in an Uptrend Under Pressure. The S&P 500 and Nasdaq sold off in the middle of last week, followed by an
upside reversal on Friday. Indices are facing resistance at the 21-DMA (6,772; 23,191), with support at the 50-DMA (6,704; 22,835). The
distribution day count stands at two and six, respectively, with one day expiring on the Nasdaq today after the close.