WON Europe Today

Yesterday, all European indices barring Portugal ended in the green after experiencing a rough start to the week aided by the
positive investor sentiment about the U.S.‐China trade talks. All sectors except Telecom closed higher with the Basic Resources
sector being the best performer.
The Stoxx 600 regained 0.87%. The index remains in a Confirmed Uptrend but still trade below its 50‐DMA, its next support.
France’s CAC 40, Germany’s DAX, and the U.K.’s FTSE 100 were up 1.15%, 0.52%, and 0.74%, respectively. All the indices are
heading toward the immediate resistance at the 50‐DMA.
Among the individual stocks, Rolls‐Royce (RR.GB; RR/:LN) spiked 4.99%, following Britain’s serious fraud office’s decision to
cease scrutiny on some of its employees with regard to claims of corruption and bribery.

WON Europe Today

On Monday, European indices closed mixed after a strong start as investors chose to remain cautious ahead of the renewed
trade talks between the U.S. and China this week.
The Stoxx 600 was down 0.15% following a 2.83% increase on Friday with heavy volume. The index was primarily affected by
poor performance of the U.K. stocks. It remains in a Confirmed Uptrend and continues to trade below 50‐DMA.

WON Europe Today

All European indices closed in the green on Friday. This resulted in a follow‐through day (FTD) across many indices, after dull
trading sessions last week. The revival was followed by positive macroeconomic data in the U.S. and China, and the news that
the two countries will resume trade talks.

WON Global View

The U.S. market has been upgraded to a Confirmed Uptrend. The S&P 500 staged a day seven follow-through Friday, rising 3.4% on volume 15% greater than that of Thursday. The Nasdaq rose 4.3%, but volume was slightly less than Thursday’s, despite coming in above the 50-day average. The next level of resistance is the downward trending 50-DMA at 2,637 (+4%) on the S&P 500 and 7,012 (+3.9%) on the Nasdaq.

China A Shares Long

China’s market is in an Uptrend Under Pressure. The CSI 300 continues to decline for a
second consecutive week, recording two more distribution days this week. The index now has
six distribution days in the last five weeks and, more notably, distribution has been rising over
the more recent two weeks. The index is testing year-to-date lows and could be on the verge
of moving to a Downtrend. Looking forward, we are keeping a close eye on the 3,700 level,
which we believe is crucial near-term support. We recommend a cautious approach.