Key points from this week’s report:
Please refer to the attached PDF for the full report.
- The Stoxx 600 lost 26bps last week and is finding resistance at its all-time high. The index is currently consolidating in its pivot zone and remains in a Confirmed Uptrend with four distribution days. The index has gained for seven consecutive months now.
- Overall, we remain positive: of the 17 indices we cover, 13 are in a Confirmed Uptrend and four in an Uptrend Under Pressure. Distribution in the region remains low.
- Underperforming over 26 weeks, Utility continues to show signs of improving short-term momentum, while deteriorating for Consumer Cyclical, Transportation, and Basic Material sectors.