The U.S. market is in a Confirmed Uptrend. The S&P 500 declined 27bps on higher d/d volume, recording a distribution day, while the
Nasdaq declined 50bps on lower d/d volume and avoided a distribution day. Indices are 2–3% away from their all-time high (6,147,
20,204), with the first level of support at their 10-DMA (5,975; 19,428). The distribution day count increased to four on the S&P 500 and
remains at three on the Nasdaq.
Author: Deepashree MC
Won Europe Today
We released our European Weekly Summary yesterday. Click here for the full report. Key points from it include:
- The Stoxx 600 rose 0.8% last week and is in a Confirmed Uptrend, with key resistance at its all-time high, just 2% above Friday’s close. Most European markets are also in a Confirmed Uptrend, except France’s CAC 40, which is in an Uptrend Under Pressure. Germany’s DAX 40 remains a top performer, while Denmark’s index gained but is still 36% off highs.
- Most sectors gained last week, led by Health Care, Transportation, Technology, and Energy, which rose 2–2.5%. Utility (-0.2%) and Consumer Cyclical (-1.1%) were the sole decliners.
- On the rotation chart, Health Care is regaining short-term momentum after a bounce from oversold levels. Stocks like Ypsomed (YPSN.CH; YPSN:SW), Clariane (KORI.FR; CLARI:FP), and Swedish Orphan (SOBI.SE; SOBI:SS) are building the right side of their bases.
Won Global View
The U.S. market is in a Confirmed Uptrend. The S&P and Nasdaq saw small gains of 55bps and 63bps, respectively, inching toward alltime highs (6,147; 20,204), now less than 2% away. Indices have the first level of support at their 10-DMA (5,964; 19,386). The distribution
day count now stands at three on each index after one day expired on the S&P 500 yesterday.
Won Europe Today
Yesterday,
- European markets closed lower as investors remained cautious while waiting for updates from the U.S.-China trade talks in London. Investors are focused on whether any progress in these discussions could ease global trade tensions. Key European economic data and remarks from the ECB officials are also being closely watched this week.
- Among key movers on the Stoxx 600, shares of Spectris (SXS.GB; SXS:LN) surged 60.1% as the company agreed to a £3.73B takeover offer from Advent. Meanwhile, shares of WPP (WPP.GB; WPP:LN) fell 2.7% after the company’s CEO Mark Read announced plans to retire by the end of 2025.
- The Stoxx 600 continued to trade above all its key moving averages and closed flat. It has next resistance at its March high (+1.5%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
- Among sectors, Travel & Leisure (+72bps), Food & Beverage (+52bps), and Technology (+45bps) were the top gainers, while Financial Services (-73bps), Telecommunications (-55bps), and Oil & Gas (-28bps) lagged the most.
- Among major indices, France’s CAC 40 fell 0.2% and tested support at its 10-DMA. Next support is at the confluence of its 50- and 200-DMA (-2.1%). Germany’s DAX 30 tested support at its 10-DMA and closed the session 0.5% lower. Next support is at its 21-DMA (-0.6%), followed by its 50-DMA (-5.9%). The U.K.’s FTSE 100 ended the session flat. Immediate resistance is at its March high (+0.4%).
- Denmark, Norway, and Switzerland were closed on account of market holiday. Eight of the 13 open markets closed in the red. Eleven of the 16 markets we track are in a Confirmed Uptrend, two in an Uptrend Under Pressure, and three in a Rally Attempt.
- All 22 European Focus List names are trading above their 50- and 200-DMA.
- Actionable names in the Focus List include Adyen (ADYE.NL; ADYEN:NA), Alk-Abello B (ALK.DK; ALKB:DC), Bawag Group (BWGP.AT; BG:AV), Nemetschek (NEMX.DE; NEM:GR), Premier Foods (PFD.GB; PFD:LN), Sap (Xet) (SAPX.DE; SAP:GR), and Safran (SGM.FR; SAF:FP).
Won Global View
The U.S. market is in a Confirmed Uptrend. The S&P and Nasdaq gained 9bps and 31bps, respectively. Indices are slowly approaching
their all-time highs (6,147, 20,204), less than 3% away, with the first level of support at their 10-DMA (5,947; 19,313). The distribution day
count stands at four and three, respectively, with one day expiring on the S&P 500 today after market close.
Won Europe Today
On Friday,
- European markets closed higher for the second consecutive week, supported by strong U.S. job data and fading concerns over trade friction. However, the European central bank President Christine Lagarde hinted that the rate-cutting cycle might soon end, making traders reconsider their hopes for more cuts. Meanwhile, investors are closely watching if the clash between Trump and Tesla CEO Elon Musk will affect the broader market.
- Among key movers on the Stoxx 600, shares of Dassault Systèmes (DSY.FR; DSY:FP) declined 1.2% after the French software firm pushed its medium-term earnings target by a year. Meanwhile shares of Renk (R3NKX.DE; R3NK:GR) fell 6.2% afterExane BNP Paribas downgraded the stock to “underperform.”
- The Stoxx 600 booked a gain of 0.3% and continued to trade above all its key moving averages. It has resistance at its March high (+1.5%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
- Among sectors, Financial Services (+126bps), Oil & Gas (+90bps), and Health Care (+82bps) were the top gainers, while Basic Resources (-182bps), Telecommunications (-55bps), and Chemicals (-50bps) lagged the most.
- Among major indices, France’s CAC 40 closed 0.2% higher and tested resistance at the confluence of its 21- and 100-DMA. It has immediate support at its 10-DMA (-0.2%), followed by its 50-DMA (-2.1%). Germany’s DAX 30 closed the session flat and continued to trade above all its key moving averages. Support is at its 10-DMA (-0.7%), followed by its 21-DMA (-1.4%). The U.K.’s FTSE 100 extended its positive momentum and advanced 0.3%. Immediate resistance is at its March high (+0.4%).
- Sweden was closed on account of a national holiday. Twelve of the 15 open markets closed in the green. Eleven of the 16 markets we track are in a Confirmed Uptrend, two in an Uptrend Under Pressure, and three in a Rally Attempt.
- All 23 European Focus List names are trading above their 50- and 200-DMA.
- Actionable names in the Focus List include Adyen (ADYE.NL; ADYEN:NA), Alk-Abello B (ALK.DK; ALKB:DC), Bawag Group (BWGP.AT; BG:AV), Nemetschek (NEMX.DE; NEM:GR), Premier Foods (PFD.GB; PFD:LN), Sap (Xet) (SAPX.DE; SAP:GR), Safran (SGM.FR; SAF:FP), and Wise A (WISE.GB; WISE:LN).
Won Global View
The U.S. market is in a Confirmed Uptrend. On Friday, the S&P 500 and Nasdaq gained 1.0% and 1.2%, respectively, approaching their
all-time highs (6,147; 20,204), now less than 3% away. The first level of support for the S&P 500 and Nasdaq is at their 10-DMA (5,934;
19,251). The distribution day count stands at four and three, respectively, with one day expiring on the S&P 500 tomorrow after market
close.
Won Europe Today
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 Rio Tinto (RIO.GB; RIO:LN), Hexagon B (EKBF.SE; HEXAB:SS), and Stadler Rail (SRAIL.CH; SRAIL:SW).
Won Global View
The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq declined 53bps and 83bps on higher d/d volume, respectively, and registered a distribution day. Support for indices is at their 10-DMA (5,919; 19,189), followed by their 21-DMA (5,850; 18,855). The distribution day count increased to four and three, respectively.
Won Europe Today
Yesterday,
- European stocks closed higher, lifted by Berlin’s approval of a €46B corporate tax relief package designed to revive economic growth. As the first major step by Germany’s new government, the move aims to prevent a third straight year of economic contraction. Meanwhile, investors remained cautious ahead of the European Central Bank’s interest rate decision due later today.
- Among key movers on the Stoxx 600, shares of French semiconductor manufacturer STMicroelectronics (STM.FR; STMPA:FP) closed 11% higher after the company mentioned about witnessing signs of recovery.
- The Stoxx 600 bounced off its 21-DMA and closed almost 0.5% higher. It has reclaimed its 10-DMA, with next resistance at its early March high. We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
- Among sectors, Technology (+112bps) and Food and Beverage (+112bps) posted the strongest gains, while Energy (-108bps) and Automobile (-54bps) led the losses.
- Among major indices, France’s CAC 40 extended its gains for a second session, closing 0.5% higher. It found support near its 50-DMA and reclaimed its 100-DMA. Germany’s DAX 30 traced back to its all-time high after finding support at its 21-DMA and advanced ~0.8%. It remains extended above all its moving averages. The U.K.’s FTSE 100 ended 0.1% higher and is consolidating near its 10-DMA.
- Austria recorded its third distribution day, while Ireland, Portugal, and Spain logged in their fourth.
- Twelve 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 3.7.
- All the 21 European Focus List names are trading above their 200-DMA, while 20 ideas are trading above their 50-DMA.
- Actionable names in the European Focus List are Bawag Group (BWGP.AT; BG:AV), 3i Group (III.GB; III:LN), Safran (SGM.FR; SAF:FP), Sap (SAPX.DE; SAP:GR), and Premier Foods (PFD.GB; PFD:LN).
