Key points:
The Stoxx 600 remains in an Uptrend Under Pressure and is trading along its rising 50‐DMA (key support) but
facing strong resistance at its 200‐DMA. As both moving averages are now close to each other, actions in the
next few days should bring indications about the next market trend.
Ireland, Finland, Switzerland, and the U.K. were moved to a Confirmed Uptrend this week. Five markets are now in
a Confirmed Uptrend, ten are in an Uptrend Under Pressure, and two are in a Rally Attempt.
Leadership remains very concentrated in capital equipment and basic resources stocks. In this report, we bring
to investor’s attention a list of actionable ideas among these sectors.
We added Puma (PUMX.DE) to our European Focus List (EFL).
HelloFresh (HFGX.DE) was added to our Conviction Laggards List, while H&M (HMBF.SE; $24B market cap) was
removed from this list.