Author: Veera Manju

WON Europe Today

Posted on by Veera Manju

Key points:

  • The Stoxx 600 is in a Rally Attempt. Constructive trading action this week in Europe led a majority of indices to hold Monday lows. Out of the 18 countries we cover, 12 are now in a Rally Attempt.

  • We recommend patience before adding risk to portfolios. We are looking for confirmation in the form of a follow-through day to become more aggressive.

  • Although Friday’s action may have tempted many investors to allocate more money to European equities, the lack of volume was concerning.

  • From our Focus List, the best action last week includes: LVMH (LVMH.FR; MC:FP), Coloplast (COL.DK; COLOB:DC), Orsted (DEN.DK; ORSTED:DC), Edenred (EDEN.FR; EDEN:FP), Nibe (NIBE.SE; NIBEB:SS), Puma (PUMX.DE; PUM:GR), and SIKA (SIKA.CH; SIKA:SW).

WON Global View

Posted on by Veera Manju

The U.S. market has been upgraded to a Confirmed Uptrend. The Nasdaq staged a day four follow-through on Friday, rising 1.66% on volume greater than Thursday’s. The S&P 500 rose 1.1% and back above its 50-DMA, though on lower day-over-day volume. Only one index needs to stage a follow-through day to move to a Confirmed Uptrend. The next level of resistance is ~2,892 on the S&P 500 and the 50-DMA on the Nasdaq (7,856).

Won Europe Today

Posted on by Veera Manju

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

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 Total (TAL.FR; FP:FP), Koninklijke Ahold Delhaize (AD.NL; AD:NA), Bbv.Argentaria (BBVA.ES; BBVA:SM), and Morrison (

) spmkts (MRW.GB; MRW:LN).

WON Global View

Posted on by Veera Manju

The U.S. market remains in a Rally Attempt. The Nasdaq undercut its May 13 low of 7,627, however, the S&P 500 narrowly held its low of 2,801, keeping the Rally Attempt intact. Therefore, a follow-through day could still occur, however, should this happen, a patient and selective approach would be still be warranted given that few ideas are currently actionable. If the S&P 500 follows the Nasdaq lower and undercuts 2,801, we will shift the market back to a Downtrend. If this occurs, the next logical level of support is the 200-DMA (S&P 500: 2,777; Nasdaq: 7,531).

WON Europe Today

Posted on by Veera Manju

Yesterday, European markets closed slightly down after renewed trade tensions following the report that the U.S. is considering restrictions over Chinese firm Hikvision. Germany’s DAX and the U.K.’s FTSE 100 were up 0.21% and 0.07%, respectively, on higher volume. France’s CAC was down 0.12%, on lower volume.

  • The Stoxx 600 lost 0.08%, with higher volume.
  • Sectors that gained the most include Chemicals and Financial Services, while Automobile & Parts, Travel & Leisure, and Banks incurred losses. Banks incurred losses as investors switched to bond market, following rising uncertainties over Brexit.
  • The countries that closed in positive territory were Germany, the U.K., Denmark, Ireland, and Switzerland.
  • Sweden added one distribution day after losing 0.46% on higher volume, taking the total number to five.

WON Global View

Posted on by Veera Manju

The U.S. market remains in a Rally Attempt. The S&P 500 and Nasdaq have now held above the May 13 low (S&P 500: 2,801; Nasdaq: 7,627) for seven sessions. We are still looking for a follow-through day in the form of a 1.7% or more rally on volume greater than the prior day before upgrading the market to a Confirmed Uptrend.

WON Europe Today

Posted on by Veera Manju

Yesterday, European markets closed in the green after the U.S. eased restrictions on Huawei. Germany’s DAX and France’s CAC were up 0.87% and 0.50%, respectively, on lower volume. The U.K.’s FTSE 100 was up 0.25% on higher volume.

  • The Stoxx 600 gained 0.53%, with lower volume.
  • Sectors that gained the most include trade-sensitive Automobile & Parts, Banks, and Chemicals.
  • The only country that closed in negative territory was Luxembourg.

WON Global View

Posted on by Veera Manju

The U.S. market remains in a Rally Attempt. The S&P 500 and Nasdaq rallied 0.8% and 1.1%, respectively, in volume lower than Monday’s. This move was not strong enough to classify as a follow-through day. We are still waiting for a move of 1.7% or more in volume higher than the prior day before upgrading the market to a Confirmed Uptrend.

WON Europe Today

Posted on by Veera Manju

Yesterday, European markets closed in the red, amid the trade dispute between the U.S and China after the former took a tough stance against Huawei. France’s CAC and the U.K.’s FTSE 100 were down 1.46% and 0.51%, respectively, on lower volume. Germany’s DAX fell 1.61% on higher volume.

  • The Stoxx 600 dropped 1.06%, with higher volume.
  • Sectors that lost the most include trade-sensitive Automobile & Parts, Banks, and Chemicals.
  • The only country that closed in positive territory was Norway.
  • The Stoxx 600, Germany, Denmark, and Italy added one distribution day after losing 1.06%, 1.61%, 0.21%, and 2.68%, respectively, on higher volume.

WON Global View

Posted on by Veera Manju

The U.S. market is in a Rally Attempt. The S&P 500 and Nasdaq have now held above last Monday’s low (S&P 500: 2,801; Nasdaq: 7,627) for five sessions. An undercut of these lows will result in the market status being shifted back to a Downtrend. To upgrade to a Confirmed Uptrend, we will be looking for a follow-through day in the form of a 1.7% or more rally on volume greater than the prior day.