O’Neil Consumer/Retail Weekly

Consumer Staples (XLP): The index declined 1% this week. It hit resistance at its declining 100-DMA and pulled back to its 50-DMA. Next
support is near $77 level (-1%), followed by $75 (-4%).

Best-performing IGs: Beverages-Non-Alcoholic is the group with the strongest improvement in the group Rank, with the rank improving by
72 spots to #106 over the last eight weeks. Food-Packaged was the other industry group which showed improvement in Rank over the last
eight weeks, with Rank improving by 29 spots to #131.

European Weekly Summary

Key points from this week’s report:

Please refer to the attached PDF for the full report.

 

  • The Stoxx 600 gained ~0.4% last week, trading above all key moving averages and now sitting just 1.4% below its 52-week highs. The index remains in an Uptrend Under Pressure with six distribution days, though three are set to expire this week. Immediate support sits at the 21-DMA (-1.1%), followed by the 50-DMA (-1.5%). Spain and Sweden were upgraded last week to Confirmed Uptrend from Uptrend Under Pressure. Among the 16 indices we track, five are now in Confirmed Uptrend, six are in Rally Attempt, and five remain in Uptrend Under Pressure. The average distribution-day count stands at 4.2. See page 4 for details.

O’Neil Consumer/Retail Weekly

Consumer Staples (XLP): The index rose 2.2% this week and reclaimed its 50-DMA (-1%) after bouncing off its 21-DMA. It is facing strong resistance at its 100-DMA (+1%). Next resistance is at its 200-DMA (+2%).

Best-performing IGs: Beverages-Non-Alcoholic is the group with the strongest improvement in the group Rank, with the rank improving by 27 spots to #117 over the last four weeks. Food-Packaged was the other industry group which showed improvement in Rank over the last four weeks, with Rank improving by 14 spots to #148.

European Weekly Summary

Key points from this week’s report:

Please refer to the attached PDF for the full report.

 

  • The STOXX 600 (EXSA.DE) gained ~2.6% last week, reclaiming its 21- and 50-DMA after a decisive rebound off the 100-DMA. The index remains in an Uptrend Under Pressure, sitting ~2% below its 52-week highs with seven distribution days. Key support levels are the 21-DMA (-0.7%) and the 50-DMA (-1.1%). France, Germany, Norway, Portugal, and the Netherlands were upgraded to Rally Attempt from Downtrend as they successfully held recent lows. Ireland moved to a Confirmed Uptrend from Uptrend Under Pressure. Across the 16 indices we track, three are in Confirmed Uptrend, six in Rally Attempt, and seven in Uptrend Under Pressure. The average distribution day count remains elevated at 4.5.

O’Neil Consumer/Retail Weekly

Consumer Staples (XLP): The index rose 2% this week and reclaimed its 50-DMA. Next resistance is at its 100-DMA (+2%), followed by its 200-DMA (+3%). 

 

Best-performing IGs: Beverages-Non-Alcoholic is the group with the strongest improvement in the group Rank, with the rank improving by 30 spots to #123 over the last four weeks. Food-Packaged was the other industry group which showed improvement in Rank over the last four weeks, with Rank improving by 22 spots to #150. 

European Weekly Summary

Key points from this week’s report:

Please refer to the attached PDF for the full report.

 

  • The Stoxx 600 fell ~2.3% last week, breaking below both its 21-DMA and 50-DMA, and is now testing support at the 100-DMA. The index was shifted to an Uptrend Under Pressure and now sits ~4% below its 52-week highs with seven distribution days. Immediate support levels are the 100-DMA (-0.4%), followed by the 200-DMA (-2.5%). To remain constructive, the index must hold the 100-DMA without further clustering of distribution days.

O’Neil Consumer/Retail Weekly

Consumer Staples (XLP): The index traded flat last week and consolidated near its 21-DMA. It is testing support at its 10-DMA. Next support is near $76 (-2%).

Best-performing IGs: Beverages-Non-Alcoholic is the group with the strongest improvement in the group Rank, with the rank improving by 67 spots to #108 over the last four weeks. Food-Packaged was the other industry group which showed improvement in Rank over the last four weeks, with Rank improving by 39 spots to #139.

European Weekly Summary

Key points from this week’s report:

Please refer to the attached PDF for the full report.

 

  • The Stoxx 600 was up ~1.9% last week, pushing into a new 52-week high on Wednesday before pulling back to its 21-DMA, and finally breaking below this level today. As a result, the index shifted back to an Uptrend Under Pressure. Distribution rose to seven after two additional distribution days were added at the end of the week. Immediate support now sits at the 50-DMA (-2.0%).
  • Along with the Stoxx 600, the U.K. and Finland were also shifted back to an Uptrend Under Pressure, after both indices breached their 21-DMA today. Among the 16 indices we cover, eight are now in Confirmed Uptrend, two in a Rally Attempt, and four in Uptrend Under Pressure. The average distribution slightly declined to ~4.1 from ~4.6 the prior week.

O’Neil Consumer/Retail Weekly

Consumer Staples (XLP): The index rose ~2% last week and reclaimed its 21-DMA. Next resistance is at its 50-DMA (+1%), followed by its 100-DMA (+3%). Support is at its 10-DMA (-1%).

 

Best-performing IGs: Beverages-Non-Alcoholic is the group with the strongest improvement in the group Rank, with the rank improving by 50 spots to #128. Food-Packaged was the other industry group which showed improvement in Rank over the last four weeks, with Rank improving by 27 spots to #154.

European Weekly Summary

Key points from this week’s report:

Please refer to the attached PDF for the full report.

 

  • The Stoxx 600 fell ~1.3% last week, breaking below its 21-DMA but finding support at the 50-DMA. The index was downgraded to an Uptrend Under Pressure as distribution days rose to seven, with three added during the week. Alongside the Stoxx 600, Sweden, Portugal, and the Netherlands were also shifted to Uptrend Under Pressure, while France was downgraded to a Downtrend. Ireland was upgraded to Confirmed Uptrend from a Rally Attempt. Of the 16 indices we track, 4 are now in Confirmed Uptrend, 2 in Rally Attempt, 7 in Uptrend Under Pressure, and 3 in Downtrend. The average number of distribution days increased to ~4.6 from ~3.8 in the prior week.