Author: Veera Manju

WON Europe Today

Posted on by Veera Manju

Yesterday,

  • European markets closed lower, with investor attention still tuned to trade tensions between the U.S. and China. The Stoxx 600 closed 0.36% lower, with Banks and Retail dragging the market.

  • Among the major bourses, Germany’s DAX lost 0.58%, France’s CAC 40 fell 0.18%, and the U.K.’s FTSE 100 closed 0.07% lower. The only countries to close in positive territory were Denmark, Finland, Norway, and Luxembourg.

  • THe Ishares DJ Stoxx 600 remains in an Uptrend Under Pressure with 4 Distribution Days.

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 Monday’s low for four sessions. We are now looking for a follow-through day before shifting the market into a Confirmed Uptrend or, conversely, an undercut of Monday’s lows (S&P 500: 2,801; Nasdaq: 7,627) before shifting the market back into a Downtrend. A follow-through day should feel like an explosive rally, with indices preferably up 1.7% or more, on heavier volume than the day before.

WON Europe Today

Posted on by Veera Manju

Yesterday, majority of European markets closed in the green, following news there was a possibility for a postponement of import duties on European cars.

 

  • The Stoxx 600 increased 0.46% on higher volume. The index remains in an Uptrend Under Pressure as it continues to trade below the 50-DMA.

 

  • Among the key indices, France’s CAC 40 and the U.K.’s FTSE 100 rose 0.62% and 0.76%, respectively. Germany’s DAX increased 0.90% even though the country’s GDP fell short of consensus estimates.

WON Europe Today

Posted on by Veera Manju

Yesterday, majority of European markets closed in the green, following news there was a possibility for a postponement of import duties on European cars.

 

  • The Stoxx 600 increased 0.46% on higher volume. The index remains in an Uptrend Under Pressure as it continues to trade below the 50-DMA.

 

  • Among the key indices, France’s CAC 40 and the U.K.’s FTSE 100 rose 0.62% and 0.76%, respectively. Germany’s DAX increased 0.90% even though the country’s GDP fell short of consensus estimates.

WON Global View

Posted on by Veera Manju

The U.S. market is in a Downtrend. The S&P 500 and Nasdaq staged upside reversals, rallying for a second straight session. Both are now testing resistance at their respective 50-DMA (S&P 500: 2,864; Nasdaq: 7,854). We will move the market status to Rally Attempt today should indices hold above the lows from Monday. From that point forward, we will be looking for either the S&P 500 and Nasdaq to recapture and hold above their respective 50-DMA or for a follow-through day before upgrading the market back to a Confirmed Uptrend.

WON Europe Today

Posted on by Veera Manju

Yesterday,

  • European markets recovered after Monday saw a rout amid retaliatory tariffs announced by China.

  • The Stoxx 600 closed 1.01% higher, with Basic Resources and Technology leading the gains.

  • France’s CAC 40 led with 1.50% gains, the U.K.’s FTSE 100 was up 1.09%, and Germany’s DAX gained 0.97%.

  • All country bourses closed in the green.

WON Global View

Posted on by Veera Manju

The U.S. market is in a Downtrend. The S&P 500 and Nasdaq rallied yesterday and are now facing resistance at their respective 50-DMA (S&P 500: 2,863; Nasdaq: 7,849). We will be looking for each index to regain and hold above that level of resistance before turning more positive on the general market. Should indices reverse lower, we will be looking for the 200-DMA (S&P 500: 2,776; Nasdaq: 7,531) to act as support.

WON Europe Today

Posted on by Veera Manju

Yesterday, European markets ended in the red amid retaliation from China regarding tariff hikes (25% from June 1). Further, the release of unfavorable China vehicle sales data (-14.6% y/y in April) impacted the Auto sector, as German car makers anticipate further decline in demand from the Asian country.

  • The Stoxx 600 was down 1.3% on higher volume, adding a distribution day. It is trading below the 50-DMA and retracing towards the March low (at 369.74). The index is in an Uptrend Under Pressure with four distribution days.
  • Germany’s DAX declined 1.52%, mainly impacted by more than 8% decline in shares of Thyssenkrupp (TKAX.DE; TKA:GR) owing to the end of the merger with Tata Steel (TIS.IN; TATA:IN). France’s CAC 40 fell 1.22%, followed by the U.K’s FTSE 100, which slipped 0.55%.

WON Global View

Posted on by Veera Manju

The U.S. market has been downgraded to a Downtrend. The S&P 500 and Nasdaq gapped down below their respective 50-DMA and, unlike Thursday and Friday, closed near the lows of the session. We believe the next level of support is the 200-DMA (S&P 500: 2,776; Nasdaq: 7,531).