Author: Veera Manju

WON Europe Today

Posted on by Veera Manju

Yesterday, European markets closed slightly higher after the European Central Bank (

) left borrowing costs unchanged. Germany’s DAX and France’s CAC were up 0.47% and 0.25%, respectively, on higher volume. The U.K.’s FTSE 100 fell 0.05% on lower volume.

  • The Stoxx 600 was up 0.14%, on lower volume.
  • Sectors that gained the most include Travel and Leisure, Media, and Construction and Materials. The top loser was Banks, due to a lack of details in

    ‘s comments after the rate decision.

  • Finland and Belgium had a distribution day yesterday, taking the total count to eight and one, respectively.
  • The countries that closed in positive territory were France, Germany, Norway, Sweden, Austria, Portugal, and the Netherlands.

WON Global View

Posted on by Veera Manju

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq continue to hold trend, inching higher in light volume as moving averages continue to catch up to current prices. Distribution fell to two days on the S&P 500 and three on the Nasdaq with no further expiration for two weeks. Resistance is ~2,900 on the S&P 500 and ~8,000 on the Nasdaq before new all-time highs. Support remains the rising 21-DMA (S&P 500: 2,845; Nasdaq: 7,778).

WON Global View

Posted on by Veera Manju

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq pulled back yesterday, closing near session lows. The Nasdaq added a distribution day, though its count remains at four due to expiration. The S&P 500 avoided distribution and its count fell to three days. Both indices will lose another distribution day at the close today. Near-term support remains at the rising 21-DMA (S&P 500: 2,840; Nasdaq: 7,760).

WON Europe Today

Posted on by Veera Manju

Yesterday, major European markets closed in the red, with most sectors incurring losses after the U.S. threatened tariffs on goods from the EU as well as the IMF’s indication of a global growth slowdown. Germany’s DAX and France’s CAC were down 0.94% and 0.65%, respectively, on higher volume. The U.K.’s FTSE 100 fell 0.35% on higher volume.

  • The Stoxx 600 was down 0.36%, on higher volume.
  • Sectors that incurred maximum losses include Travel and Leisure, Automobile and Parts, and Chemicals.
  • Most countries had a distribution day.
  • The only country that closed in positive territory was Austria.

 

WON Global View

Posted on by Veera Manju

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq staged upside reversals, closing relatively flat on the session. Near-term support remains the 21-DMA (S&P 500: 2,836; Nasdaq: 7,744). Distribution stands at four days each, with one day expiring on both at the close today and the close tomorrow.

WON Europe Today

Posted on by Veera Manju

Yesterday, barring the U.K., major European markets finished trading in the red with most sectors incurring losses. Banking stocks fell about 0.40% after European bank supervisors’ intervention in the possible merger between Deutsche Bank (DBKX.DE; DBK:GR) and Commerzbank (CBKX.DE; CBK:GR). France’s CAC and Germany’s DAX were down 0.08% and 0.39%, respectively, on lower volume. The U.K.’s FTSE 100 was up 0.07% on lower volume.

  • The Stoxx 600 was down 0.19%, with lower volume.
  • Sectors that incurred maximum losses include Travel and Leisure, Financial Services, and Media.
  • Finland had a distribution day after losing 0.71% on higher volume, raising the distribution day count to six.
  • Countries that closed in positive territory include the U.K. (due to the depreciation of the pound), Denmark, Norway, Sweden, Switzerland, Italy, and Portugal.

WON Global View

Posted on by Veera Manju

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq continue to push higher and are now testing resistance near October 2018 highs. Near-term support remains the rising 21-DMA (S&P 500: 2,831 (-2.2%); Nasdaq: 7,724 (-2.8%)). Distribution continues to expire, now at four days each with two additional days expiring this week.

WON Europe Today

Posted on by Veera Manju

On Friday, most European markets closed in the green on the back of narrowed French trade deficit, rise in industry output in Germany, and optimism over the trade deal between the U.S. and China. Germany’s DAX was up 0.18% on lower volume. The U.K.’s FTSE 100 and France’s CAC 40 were up 0.61% and 0.23%, respectively, on higher volume.

  • The Stoxx 600 closed 0.10% higher, on lower volume.
  • Most of the major sectors performed well on Friday. Chemical stocks were the biggest gainers with Swiss Ems Chemie Holding (EMSN.CH; EMSN:TQ) gaining about 6% after Q1 results beat the sales target.
  • The countries that were in negative territory include Switzerland, Spain, and Portugal.
  • Spain added one distribution day on Friday after losing 0.25% on higher volume, taking the total to four.

WON Global View

Posted on by Veera Manju

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq traded relatively flat yesterday, continuing to hold trend with five distribution days each. One distribution day will expire on each index at the close today and two more expire next week.

WON Europe Today

Posted on by Veera Manju

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

Key points: