The U.S. market is in a Rally Attempt. The S&P 500 is back below its 200-DMA after declining ~1.1%. The Nasdaq was down ~2.0%
and breached its 21-DMA. The window for a follow-through day (FTD) remains open unless indices undercut last week’s intraday lows
(5,505; 17,238).
Author: Deepashree MC
Won Europe Today
Yesterday,
- European markets rebounded after recent losses, driven by renewed investor optimism following the U.S.’ decision to ease its tariff stance, delaying some levies beyond April 2 and granting exemptions to certain countries. Positive sentiment was further supported by German data, which showed a rise in business morale in March, as companies anticipated a recovery following two years of economic contraction.
- Among significant movers on the Stoxx 600, shares of the British home improvement group Kingfisher (KGF.GB; KGF:LN) were down 14% as the company reported a decline in its annual profit, reflecting overall demand pressure.
- The Stoxx 600 recovered from its losses in the previous three sessions and closed 0.7% higher. It retook its 10- and 21-DMA andwas trading above all its key moving averages. We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
- Among sectors, Banks (+170bps) and Travel and Leisure (+119bps) gained the most, while Retail (-103bps) and Food and Beverage (-39bps) led the decline.
- Among major indices, France’s CAC 40 gained more than 1% after finding support at its 50-DMA and reclaimed its near-term moving averages.Near-term resistance is expected at its March 6 high. Germany’s DAX 30 closed 1.4% higher and retook its 10- and 21-DMA. The U.K.’s FTSE 100 advanced 0.3% after finding support at its 50-DMA. It was facing resistance at its 21-DMA.
- Austria recorded its seventh distribution day. Spain was shifted to a Confirmed Uptrend from an Uptrend Under Pressure as the index reclaimed its previous rally high.
- All the 16 indices we track closed in the green, except Austria and Denmark. Six indices are in a Confirmed Uptrend, six in an Uptrend Under Pressure, three in a Rally Attempt, and one in a Downtrend. The average distribution day count stood at 4.9.
- Of the 20 European Focus List names, 19 ideas are trading above their 200-DMA, while 9 ideas are trading above their 50-DMA.
- Actionable names in the Focus List include Games Workshop (GAW.GB; GAW:LN) and Technogym (TGYM.IT; TGYM:IM).
Won Global View
The U.S. market is in a Rally Attempt. The S&P 500 rose ~20bps on lower d/d volume and held above long-term support at its 200-
DMA.The Nasdaq gained ~40bps and traded above its 21-DMA but 1% below its 200-DMA. The window for follow-through day (FTD)
remains open unless indices undercut last week’s intraday lows (5,505; 17,238).
Won Europe Today
We released our European Weekly Summary yesterday. Click here to access the report. Key points from it include:
- European markets witnessed moderate gains last week following a steady interest rate decision from both the Fed and the Bank of England. We expect the Stoxx 600 to consolidate after retaking few of its near-term moving averages.
- Energy led the sectoral gains, followed by Utility. Chemicals, Autos, and Travel & Leisure witnessed sharp declines last week. Technology and Mining stocks rallied earlier in the week but pared most of their gains after hitting stiff resistance levels.
Won Global View
The U.S. market is in a Rally Attempt. The S&P 500 rose ~1.8% on lower d/d volume, clearing above resistance at its 200-DMA.The
Nasdaq gained ~2.3% on lower d/d volume and closed just above its 21-DMA. The window for a follow-through day (FTD) remains open
unless indices undercut last week’s intraday lows (5,505; 17,238).
Won Europe Today
On Friday,
- European markets closed lower, weighed down by losses in the Travel and Leisure sector after a fire forced Heathrow Airport to shut down. Airline stocks, including International Consolidated Airlines (IAG.GB; IAG:LN), Lufthansa (LHAX.DE; LHA:GR), and Ryanair (RYA.IE; RYA:ID), fell 1.5–2% as services were disrupted due to a power outage. Meanwhile, both the Fed and the Bank of England kept interest rates unchanged in their latest policy meetings.
- Among significant movers on the Stoxx 600, shares of German lubricant supplier Fuchs (FPE3X.DE; FPE3:GR) were down almost 7% after the company’s FY25 EBIT guidance fell short of estimates.
- The Stoxx 600 extended its losses for a second consecutive session and closed 0.6% lower. The index broke below its 21-DMA and is testing support at its 10-DMA. Next support is at its 50-DMA (-1.2%). We recommend a selective approach to adding names on a high-volume breakout or decisive retake of their key moving averages.
- Most sectors closed in negative territory, with Mining (-275bps) and Travel and Leisure (-175bps) leading the losses. Telecommunications (+66bps) was the top gainer.
- Among major indices, France’s CAC 40 declined for a second consecutive session and broke below its 10- and 21-DMA. Immediate supportis at its 50-DMA (-0.8%). Germany’s DAX 30 pulled back 0.3% on higher volume and is currently trading in line with its near-term moving averages. The U.K.’s FTSE 100 declined around 0.7%, breaching its 21-DMA and finding support at its 50-DMA.
- France, Germany, and Norway recorded their seventh distribution day, while Italy and Finland logged in their sixth. Portugal and Ireland also recorded a distribution day each, taking their distribution day count to two and four, respectively.
- Finland was shifted to an Uptrend Under Pressure from a Confirmed Uptrend as the index breached its 21-DMA.
- All the 16 indices we track closed in the red, except Spain. Five indices are in a Confirmed Uptrend, seven in an Uptrend Under Pressure, three in a Rally Attempt, and one in a Downtrend. The average distribution day count stood at 4.67.
- Of the 20 European Focus List names, 18 ideas are trading above their 200-DMA, while 10 ideas are trading above their 50-DMA.
- Actionable names in the Focus List include Games Workshop (GAW.GB; GAW:LN), Hermes (RMS.FR; RMS:FP), Adyen (ADYE.NL; ADYEN:NA), and Technogym (TGYM.IT; TGYM:IM).
Won Global View
The U.S. market is in a Rally Attempt. The S&P 500 rose 0.5%, while the Nasdaq rose 0.2% last week, including upside intraday
reversals to close positive on Friday. Indices have resistance at their declining 21-DMA (5,748, 18,166), which have now crossed below
the 200-DMA. The window for a follow-through day (FTD) remains open unless indices undercut last week’s intraday lows (5,505, 17,238).
Won Europe Today
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 Mips (MIPS.SE; MIPS:SS), Inditex (IND.ES; ITX:SM), and Auto Trader Group (AUTO.GB; AUTO:LN).
Won Global View
The U.S. market is in a Rally Attempt. The S&P 500 declined 22bps on higher d/d volume, while the Nasdaq declined 33bps on lower
d/d volume. The S&P 500 and Nasdaq have resistance at their 200-DMA (5,748; 18,435) and support at recent lows (5,505, 17,238).
Indices are open for a follow-through day (FTD), a move of +1.7% or more on volume higher than the prior session.
Won Europe Today
Yesterday,
- European markets closed mixed as investors weighed Germany’s historic policy reform and potential progress on a Ukraine ceasefire. Focus now turns to the U.S. Federal Reserve and the Bank of England, both expected to keep interest rates unchanged amid economic uncertainty, with policymakers’ guidance set to influence market sentiment.
- Among key movers on the Stoxx 600, shares of Softcat (SCT.GB; SCT:LN) surged 6.5% after the company raised its operating profit growth forecast for 2025, while shares of M&G (MNG.GB; MNG:LN) gained 2% on strong annual profit growth in 2024.
- The Stoxx 600 extended its gains for the fourth consecutive session and closed 0.2% higher. It was above all its key moving averages, with immediate resistance at its all-time high (+1.3%). 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 mixed. Oil & Gas (+160bps), Retail (+150bps), and Technology (+81bps) were the top gainers, while Telecommunications (-70bps), Chemicals (-65bps), and Automobiles & Parts (-51bps) led the decline.
- Among major indices, France’s CAC 40 jumped 0.7% and continued to trade above all its key moving averages, with next resistance at its February 18 high (+0.3%). Germany’s DAX 30 closed 0.4% lower. The index was above all its key moving averages, with immediate support at its 10-DMA (-1.5%). The U.K.’s FTSE 100 closed flat. Next resistance is at its all-time high (+1.8%), while support is at its 21-DMA (-0.3%).
- Eight of the 16 markets we track closed in the green. Seven indices are in a Confirmed Uptrend, six in an Uptrend Under Pressure, and three in a Rally Attempt.
- Sweden recorded its sixth distribution day. The average distribution day count stood at 4.08.
- Of the 21 European Focus List names, 19 ideas are trading above their 200-DMA, while12 ideas are trading above their 50-DMA.
- Actionable names in the Focus List include Games Workshop (GAW.GB; GAW:LN) and Technogym (TGYM.IT; TGYM:IM).
