Author: Deepashree MC

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).

Won Global View

Posted on by Deepashree MC

The U.S. market is in a Confirmed Uptrend. The S&P 500 and the Nasdaq declined ~2% last week and breached their respective 10-
DMA (5,838/18,794). The next level of support for both indices is near their converging 100- and 200-DMA (5,773/18,413). The distribution
day count on the S&P 500 and the Nasdaq increased to three and two, respectively.

Won Europe Today

Posted on by Deepashree MC

On Friday,

  • European markets ended the week lower after President Trump proposed a 50% tariff on EU goods starting June 1
    and threatened a 25% tariff on iPhones sold, but not made, in the U.S. The move raised concerns over a potential
    global trade war, weighing on investor sentiment and pressuring key sectors like luxury and pharmaceuticals.
  • Among key movers on the Stoxx 600, shares of AJ Bell (AJB.GB; AJB:LN) rose 8.4% after the company reported a
    12% y/y increase in H1 pretax profit, driven by higher client activity.
  • The Stoxx 600 booked a loss of 0.9% on higher volume and breached its 10-DMA. Next support is at its 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, Automobiles & Parts (-309bps), Technology (-160bps), Banks (-160bps), and Retail (-102bps)
    were the top losers while Basic Resources (+32bps) and Utility (+4bps) were the only sectors that closed in
    positive territory.
  • Among major indices, France’s CAC 40 declined 1.6% on higher volume and breached its 21- and 100-DMA. It has
    immediate support at its 50-DMA (-0.5%), followed by its 200-DMA (-1.5%). Germany’s DAX 30 fell 1.4% and
    breached its 10-DMA. Next support is at its 21-DMA (-1%). The U.K.’s FTSE 100 ended the session 0.2% lower and
    tested support at its 10-DMA. It is trading above all key moving averages. Next support is at its 21-DMA (-1.5%).
  • 15 of the 16 markets we track closed in the red. Twelve are in a Confirmed Uptrend, one in an Uptrend Under
    Pressure, and three in a Rally Attempt.
  • France was shifted to an Uptrend Under Pressure from a Confirmed Uptrend after the index recorded its sixth
    distribution day and breached its 21-DMA.
  • 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).

Won Europe Today

Posted on by Deepashree MC

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 Tenaris (TEN.IT; TEN:IM).

Won Global View

Posted on by Deepashree MC

The U.S. market is in a Confirmed Uptrend. The S&P 500 ended 4bps lower on lower d/d volume and remains slightly below its 10-
DMA. The Nasdaq, on the other hand, closed 28bps higher, bouncing off its 10-DMA. Support for both indices remains at their converging
100-DMA (5,768, 18,420) and 200-DMA (5,770, 18,401). The distribution day count on the S&P 500 and the Nasdaq stands at three and
one, respectively.

Won Europe Today

Posted on by Deepashree MC

Yesterday,

  • European markets ended flat, recovering from early losses, as broad-based gains offset a decline in luxury stocks after weaker-than-expected retail sales data from China. Meanwhile, the U.K. inflation came in higher than expected, pushing the British pound almost 0.5% higher.
  • Among key movers on the Stoxx 600, shares of British sports fashion retailer JD Sports (JD.GB; JD/:LN) declined more than 10% after the company reported weaker-than-expected Q1 FY25 sales and forecasted weakened customer demand going forward. On the other hand, shares of German chipmaker Infineon (IFXX.DE; IFX:GR) rose more than 2%, following news of its collaboration with Nvidia (NVDA)to develop chips for new power delivery systems.
  • The Stoxx 600 ended flat. The index closed in line with its March 25 high (552), expecting some resistance at this level. We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
  • Among sectors, Telecommunications (+90bps) and Technology (+66bps) led the gains, while Retail (-81bps) and Energy (-77bps) lagged the most.
  • Among major indices, France’s CAC 40 closed 0.4% lower. The index was testing support at its 10-DMA. Next support is at its 100- and 21-DMA. Germany’s DAX 30 extended its gains for a third session, closing 0.3% higher. We expect the index to consolidate here. The U.K.’s FTSE 100 ended the session flat, facing resistance at its early March high.
  • Austria and Portugal reported their second and fourth distribution day, respectively.
  • Ten of the 16 indices we track closed in the green. Thirteen are in a Confirmed Uptrend and three in a Rally Attempt. The average distribution day count stands at 2.4.
  • All the 20 European Focus List names are trading above their 50- and 200-DMA.
  • Actionable names in the European Focus List are Medacta Group (MOVE.CH; MOVE:SW), Bawag Group (BWGP.AT; BG:AV), Rolls-Royce Holdings (RR.GB; RR/:LN), Sap (SAPX.DE; SAP:GR), and RELX (REL.GB; REL:LN).