We released our European Weekly Summary yesterday (please click here to access the report).
Key points: The iShares DJ Stoxx 600 is in a Confirmed Uptrend since January 4 (follow-through day), with only one distribution day. To remain constructive in the near-term, we want to see the index continuing to hold the key support and not fall back below that level. We remain cautiously optimistic. Although we see more stocks breaking out of consolidation or forming the right side of a base on improving technical characteristics, we cannot rule out failure of the current uptrend, given the weak economic environment. The Transportation and Retail sectors have shown strong performance in the past week. Among focus list names, Davide Campari (CPR.IT; CPR:IM) is actionable. Outside the Focus List, stocks of interest include Marshalls (MSLH.GB; MSLH:LN) and Interparfums (ITP.FR; ITP:FP).
