The U.S. market remains in a Confirmed Uptrend. On Friday, the S&P 500 and Nasdaq rose 26bps and 61bps, respectively. Indices
continue to consolidate above 10-DMA support (6,806/23,420), with next support at the 21-DMA (6,752/23,109). The distribution day count stands at three and five, respectively.
Author: Deepashree MC
Won Europe Today
We released our Weekly Global Laggards Report today. Click here for 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 Eiffage (FGR.FR; FGR:FP) and L’Oreal (OR@F.FR; OR:FP).
Won Global View
The U.S. market remains in a Confirmed Uptrend. Yesterday, the S&P 500 declined 99bps on lower d/d volume, while the Nasdaq
closed 157bps lower on higher d/d volume and picked up a distribution day. Indices have pulled back toward support at the 10-DMA
(6,798/23,352), with the next level of support at the 21-DMA (6,743/23,047). The distribution day count stands at three and five,
respectively.
Won Europe Today
Yesterday,
- European markets closed slightly lower as investors awaited the U.S. Federal Reserve’s rate decision and digested a wave of corporate earnings. Mining and energy shares advanced, supported by a strong rally in oil prices.
- Among top movers on the Stoxx 600, shares of sportswear maker Adidas (ADSX.DE; ADS:GR) declined more than 10% after the company reported a 5% y/y decline in its North America sales and warned tariff pressures would impact its Q4 results.
- The Stoxx 600 closed 0.1% lower and is pulling back to its 10-DMA. Next support is at its 21-DMA. 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 (+174bps), Banks (+134bps), and Oil & Gas (+124bps) were the top gainers, while Telecommunications (-192bps), Chemicals (-135bps), and Food & Beverages (-124bps) lagged the most.
- Among major indices, France’s CAC closed 0.2% lower and is testing support at its 10-DMA. Germany’s DAX 30 closed 0.6% lower and breached its 10- and 21-DMA. Next supportis at its 50- and 100-DMA.The U.K.’s FTSE 100 closed 0.6% higher and is making fresh highs. It is extended from all its key moving averages.
- Eight of the 16 markets we track closed in the green. Eight markets are in a Confirmed Uptrend, three in an Uptrend Under Pressure, and five in a Rally Attempt.
- Switzerland was shifted to an Uptrend Under Pressure from a Confirmed Uptrend after the index breached its 50-DMA.
- All 19 European Focus List names are trading above their 200-DMA, while 15 names are trading above their 50-DMA.
- Actionable names in the Focus List include Diploma (DPLM.GB; DPLM:LN), Siemens Energy (Xet) (ENRX.DE; ENR:GR), Safran (SGM.FR), and Technogym (TGYM.IT; TGYM:IM).
Won Global View
The U.S. market remains in a Confirmed Uptrend. The S&P 500 traded flat on higher d/d volume, while the Nasdaq gained 55bps on
lower d/d volume. Both indices have support at the 10-DMA (6,793/23,301), followed by the 21-DMA (6,735/22,994). The distribution day
count now stands at three and four, respectively, after one expired on the Nasdaq yesterday after market close.
Won Europe Today
Yesterday,
- European markets closed lower, with the Stoxx 600 declining 0.2% after hitting record highs for three straight sessions, as attention turned from U.S.–China trade news to corporate earnings. Investors await this week’s major central bank decisions, as the European Central Bank is likely to keep policy unchanged, while the Fed is expected to cut rates by 25bps.
- Among key movers on the Stoxx 600, shares of BNP Paribas (BNP.FR; BNP:FP) fell 3.5% after the company missed Q3 profit estimates. Meanwhile, shares of Capgemini (CAP.FR; CAP:FP) rose 1.5% after the company raised its FY25 growth forecast.
- The Stoxx 600 ended the session 0.2% lower. Support is at its 21-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, Telecommunications (+224bps), Utility (+109bps), and Banks (+82bps) were the major gainers, while Health Care (-174bps), Travel & Leisure (-51bps), and Chemicals (-51bps) lagged the most.
- Among major indices, France’s CAC fell 0.3% on higher volume. The index is testing support at its 10-DMA, with next support at its 21-DMA (-1.6%). Germany’s DAX closed 0.1% lower and tested support at its 21-DMA. Next support is at the confluence of its 50- and 100-DMA (-1.1%). The U.K.’s FTSE advanced 0.5% and ended the session at an all-time high. Support is at its 21-DMA (-1.2%).
- Eleven of the 16 markets we track closed in the red. Nine markets are in a Confirmed Uptrend, two in an Uptrend Under Pressure, and five in a Rally Attempt.
- Belgium was shifted to an Uptrend Under Pressure from a Confirmed Uptrend after the index breached its 21-DMA.
- Belgium recorded its sixth distribution day, while the Netherlands and Sweden logged in their fifth. France, Switzerland, and the Stoxx 600 recorded their fourth distribution day. The average distribution day count stood at 3.75.
- All 19 European Focus List names are trading above their 200-DMA, while 16 names are trading above their 50-DMA.
- Actionable names in the Focus List include Diploma (DPLM.GB; DPLM:LN), NatWest (NWG.GB; NWG:LN), and Safran (SGM.FR; SAF:FP).
Won Global View
The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq gained 23bps and 80bps, respectively, on lower d/d volume,
rising for a fourth consecutive session to all-time highs. Both indices have support at the 10-DMA (6,771/23,155), followed by the 21-DMA
(6,720/22,897), which will act as primary support. The distribution day count stands at three and five, respectively, with one set to expire on
the Nasdaq today after market close.
Won Europe Today
We released our European Weekly Summary yesterday. Click here to access the full report. Key points from it include:
- The Stoxx 600 advanced ~1.7% last week, rebounding from support at its 21-DMA to reach new 52-week highs. The index remains in a Confirmed Uptrend with three distribution days. Key support levels are the 21-DMA (-1%) and the 50-DMA (-2%).
- The U.K. was shifted to a Confirmed Uptrend from an Uptrend Under Pressure, while Denmark was upgraded to a Confirmed Uptrend from a Rally Attempt. Norway and Austria were shifted to a Rally Attempt from a Downtrend.
- All sectors closed higher, except Consumer Staple (-1.4%). On our rotation graph, long-term laggards such as Consumer Cyclical, Health Care, and Technology continued to build positive momentum. Stocks in Capital Equipment continued to rise this week after their short-term momentum turned positive four weeks ago. Short-term negative momentum continued in Financial, Consumer Staple, Transportation, and Utility, while Retail momentum weakened over the last two weeks.
Won Global View
The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq gained 123bps and 186bps, respectively, on higher d/d volume
and continued their trend of making new all-time highs. Both indices have support at the 10-DMA (6,744/23,005), followed by the 21-DMA
(6,703/22,804), which will now act as primary support. The distribution day count stands at three and five, respectively, after one day
expired on the Nasdaq yesterday after market close.
Won Europe Today
On Friday,
- European markets closed higher, with the Stoxx reaching new all-time highs. This rally was due to lower-than-expected U.S. inflation, easing worries about trade tensions between the U.S. and China, and strong corporate earnings. Investor optimism grew following the news of an upcoming meeting between the U.S. and Chinese leaders, while stronger U.K. retail sales and positive eurozone business activity data further strengthened market sentiment.
- Among key movers on the Stoxx 600, shares of LSEG (LSEG.GB; LSEG:LN) gained ~5% after several brokerages raised their price targets, while shares of NatWest (NWG.GB; NWG:LN) rose 4.9% following stronger-than-expected Q3 profits and an upgraded 2025 outlook. Meanwhile, shares of Signify (LIGH.NL; LIGHT:NA) fell 9.4% on a sharper-than-expected sales drop, while shares of Hiab (CGCB.FI; HIAB:FH) fell 13.3% after the company missed Q3 forecasts.
- The Stoxx 600 continued trading above all key moving averages and booked a gain of 0.2%, ending the week at an all-time high. Support is at its 21-DMA (-1.4%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
- Overall sector performance was negative. Travel & Leisure (+158bps), Automobiles & Parts (+144bps), and Financial Services (+144bps) were the major gainers, while Food & Beverages (-73bps) and Telecommunications (-20bps) were the sole decliners.
- Among major indices, France’s CAC closed flat. It is trading above all its key moving averages. Immediate support is at its 10-DMA (-1%), followed by its 21-DMA (-2%). Germany’s DAX closed 0.1% higher after reclaiming its 10-DMA. Next resistance is at its October high (+1.4%). The U.K.’s FTSE continued its upward momentum and ended the session at an all-time high. Support is at its 21-DMA (-1.8%).
- Ten of the 16 markets we track closed in the green. Eleven markets are in a Confirmed Uptrend, one in an Uptrend Under Pressure, and four in a Rally Attempt.
- All 19 European Focus List names are trading above their 200-DMA, while 17 names are trading above their 50-DMA.
- Actionable names in the Focus List include Diploma (DPLM.GB; DPLM:LN), NatWest (NWG.GB; NWG:LN), and Safran (SGM.FR; SAF:FP).
