Author: Veera Manju

Won Europe Today

Posted on by Veera Manju

Yesterday,

European markets closed higher as investors continue monitoring earnings of major companies. Sentiment was also positive as the eurozone’s balance of trade for May was $26B, beating market expectations of $18B.

  • The Stoxx 600 was up 0.32%. Construction & Materials, Banks, and Chemical Sectors led the gains, while Oil & Gas dragged the index down.
  • Among other major indices, France’s CAC, the U.K.’s FTSE, and Germany’s Dax were up 0.65%, 0.60%, and 0.35%, respectively, on higher volume.
  • Norway and Sweden closed in negative territory.

Won Europe Today

Posted on by Veera Manju

Yesterday,

European markets closed in positive territory after China’s economic data for Q2 met analyst expectations. China’s Q2 GDP expanded 6.2%, in line with consensus, while its industrial production, retail sales, and fixed asset investment beat estimates.

  • The Stoxx 600 rebounded from early losses to close 0.36% higher. Automobiles, Chemicals, and Travel & Leisure led the gains while Telecom, Banks, and Oil & Gas dragged down the index.
  • Among other major indices, Germany’s DAX, France’s CAC, and the U.K.’s FTSE were up by 0.52%, 0.10%, and 0.34% respectively, on lower volume.
  • Norway, Austria, Italy, and Luxembourg closed in negative territory.

Won Global View

Posted on by Veera Manju

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq traded relatively flat, consolidating gains constructively above all major moving averages. Distribution remains unchanged at two days on the S&P 500 and three on the Nasdaq, with no expiration for approximately two weeks.

Won Global View

Posted on by Veera Manju

The U.S. market remains in a Confirmed Uptrend.The S&P 500 and Nasdaq are trending constructively higher with just two and three distribution days, respectively. Near-term support remains the 10- and 21-DMA on both indices.

Won Europe Today

Posted on by Veera Manju

We released our European Weekly summary yesterday (please click here to access the report).

Key points: The iShares DJ Stoxx 600 is still in a Confirmed Uptrend, but the recent clustering of distribution days is concerning. The index is now sitting at key 21-DMA support.  we are looking for the index to bounce back from that level along with stock leadership to emerge, to remain constructive.

Momentum has emerged among Financials this week, led by the Insurance group. Among the group, Ageas (AGS.BE; AGSB:IX) is breaking out this week and Generali (G.IT; G:IM), Baloise (BALN.CH; BALN:SW), Allianz (ALVX.DE; ALV:GR), and Zurich Insurance (ZURN.CH; ZURN:SW) are still trading constructively in a buy range.

A majority of stocks among the European Focus List continue to trade constructively despite recent market weakness. The list continues to expand with two new additions this week: Terna Energy (TEN.GR; TENERGY:GA) and Dsv (DSV.DK; DSV:DC).

Won Europe Today

Posted on by Veera Manju

We released our weekly Global Laggards report yesterday (please click here to access the report). The stocks highlighted in this report are laggards relative to their own domestic markets. We recommend that they be underweighted as they may be vulnerable to further downside risk and underperformance. European names highlighted this week include ISS A/S (ISS.DK; ISS:DC), BBV Argentaria (BBVA.ES; BBVA:SM), H Lundbeck (LUN.DK; LUN:DC), and Koninklijke Ahold (AD.NL; AD:NA).

Won Global View

Posted on by Veera Manju

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq traded relatively flat yesterday, consolidating gains constructively. Near-term support remains the sharply rising 10- and 21-DMA. Distribution remains unchanged at two days on the S&P 500 and three on the Nasdaq.

Won Global View

Posted on by Veera Manju

The U.S. market remains in a Confirmed Uptrend.The S&P 500 and Nasdaq gapped up into new all-time highs yesterday before eventually closing mid-range on the session. Both indices continue to trend constructively higher off their respective 10-DMA with a low number of distribution days.

Won Europe Today

Posted on by Veera Manju

Yesterday,

  • European markets continued to trade lower, with the Stoxx 600 losing 0.20%.

  • Germany’s DAX lost 0.51%. France’s CAC 40 and the U.K.’s FTSE 100 were both down 0.08% each.

  • The only countries in positive territory were Denmark, Austria, Italy, Belgium, and Luxembourg.

Won Global View

Posted on by Veera Manju

The U.S. market remains in a Confirmed Uptrend.The S&P 500 and Nasdaq staged upside reversals after finding support at their respective 10-DMA. Distribution remains unchanged at two days on the S&P 500 and three on the Nasdaq, with no expiration for three weeks.