The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq are trading at or
near all-time highs and above 10- and 21-DMA support. The distribution day count remains low
at three and one, respectively, with one day expiring on the Nasdaq next week.
Author: Sai Kiran
European Focus
On Thursday, the Stoxx 600 ended 0.20% above last Friday’s close.
Of the 17 indices we cover, 11 are in a Confirmed Uptrend, one in a
Rally Attempt, and five in an Uptrend Under Pressure. We downgraded
Luxembourg to an Uptrend Under Pressure as it breached its 50-DMA.
Global Focus Developed
Australia’s ASX All Ordinaries Index declined 0.5% this week. The
index is testing support along its 50-DMA and is trading close to its
52-week high. It remains in an Uptrend Under Pressure with two
distribution days.
Global Focus Emerging
The CSI 300 ended flat with a modest gain of 0.03% on lighter and below
average volume and remains in an Uptrend Under Pressure with eight
distribution days. The index continued moving sideways around its 50-DMA
(~4,894, +0.1%) with key resistance at the 100-DMA (~4,946, +1.1%).
Immediate support lies at November 10’s low (4,754, -2.8%) followed by July
28’s low (~4,664, -4.6%)
Global Focus Frontier
Ho Chi Minh City Development Joint Stock
Commercial Bank (HD Bank) is one of the top banks
in Vietnam and a constituent of the VN30 Index. Its
industry-leading growth and key financial ratios,
along with its exposure to the consumer finance
industry, will drive growth.
