Author: Veera Manju

Won Europe Today

Posted on by Veera Manju

Yesterday,

European markets closed in the red on the back of political developments in the U.S. and Europe. Investors were left worried
after an official impeachment inquiry against the U.S. President Donald Trump was initiated.

  • The Stoxx 600 recorded a distribution day, taking its count to two. It was down 0.58% with almost all sectors trading in the red. Travel & Leisure, Financial Services, and Oil & Gas were the biggest losers, while Banks ended flat.
  • Among other major indices, France’s CAC lost 0.79% and recorded a distribution day, taking its count to three. Germany’s DAX was down 0.59% on higher volume.
  • The U.K.’s trade‐sensitive FTSE ended flat as a result of weakness in the Pound.
  • Belgium and Luxembourg were the only indices to close in positive territory.
  • Seven of the seventeen indices that we cover recorded distribution days with Finland being downgraded to an Uptrend Under Pressure from a Confirmed Uptrend after it breached its 200‐DMA.

Won Global View

Posted on by Veera Manju

The U.S. market remains in a Confirmed Uptrend. The S&P 500 held and rallied off its 50-DMA, while the Nasdaq quickly regained that level after closing below it Tuesday. To classify Tuesday’s move lower as a shakeout, we will need to see indices make progress back toward resistance at all-time highs. If, however, the market reverses and closes back below its 50-DMA, it’s likely we move back toward August lows. There remain five distribution days on the S&P 500 and six on the Nasdaq, with one expiring on the Nasdaq today and one expiring on each index tomorrow.

Won Global View

Posted on by Veera Manju

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq pulled back sharply in heavy volume yesterday, picking up a second distribution day in three sessions. The overall count now stands at five and six respectively, with one expiring on the Nasdaq tomorrow and one expiring on each index Friday. The Nasdaq broke its 50-DMA and is now sitting on its 100-DMA, while the S&P 500 remains just slightly above its 50-DMA. We will shift the market back to Under Pressure should the S&P 500 close below its 50-DMA in the coming days.

Won Europe Today

Posted on by Veera Manju

Yesterday,
European markets closed flat as investors closely monitored political developments in the U.S. and Europe. Prorogation of the U.K.’s parliament was declared unlawful causing Sterling to rise, while the initiation of official impeachment inquiry against the U.S. President Donald Trump made investors jittery.

  • The Stoxx 600 closed flat with Banks and Automobile sectors being the biggest losers. Travel & Leisure gained more than 1% following the insolvency of Thomas Cook.
  • Among other major bourses, France’s CAC closed flat and Germany’s DAX was down 0.29% on lower volume, while the U.K.’s FTSE was down 0.47% on higher volume.
  • The Stoxx 600 and indices of Denmark, Ireland, Italy, Spain, the Netherlands, and Luxembourg closed in positive territory, while Finland, Norway, Sweden, and Belgium recorded distribution days.

Won Europe Today

Posted on by Veera Manju

Yesterday,

  • European markets closed in the red on weak economic data, with fears of a slowdown spreading to the services sector too. The collapse of Thomas Cook also added to their woes.
  • Poor data and sentiment rattled investors, causing bond yields to fall sharply across Europe.
  • The Stoxx 600 recorded a distribution day and was down 0.80%, with most sectors trading in negative territory. Banks (lost more than 2.5%), Automobiles, and Construction & Materials were the biggest losers.
  • Among other major bourses, France’s CAC and Germany’s DAX were both down more than 1%, while the U.K.’s FTSE fell 0.26%, all on lower volume.
  • Denmark was the only country to close in positive territory.

Won Global View

Posted on by Veera Manju

The U.S. market remains in a Confirmed Uptrend. The S&P 500 continues to trade within a tight range, ~1% off all-time highs, while the Nasdaq is trading ~3% off highs after testing its 21-DMA in three of the last four sessions. The distribution count remains at four and five days, respectively, with one expiring on the Nasdaq Thursday and one expiring on each index Friday. Support remains the rising 21- and 50-DMA.

Won Global View

Posted on by Veera Manju

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq pulled back off highs on Friday, picking up a fourth and fifth distribution day, respectively. One distribution day expires on the S&P 500 this week and two expire on the Nasdaq. Support remains the rising 21- and 50-DMA on both indices.

Won Europe Today

Posted on by Veera Manju

Yesterday,

  • European markets closed in the green after trade talks between the U.S. and China resumed and central banks across the world took stimulus measures.
  • The Stoxx 600 was up 0.30% with almost all sectors ending in positive territory. It was upgraded to a Confirmed Uptrendafter it breached its previous rally high. Banks led the gains while Airline stocks dragged the index down.
  • Among other major bourses, France’s CAC and Germany’s DAX were up 0.56% and 0.08%, respectively, while the U.K.’s FTSE was down 0.16%, all on higher volume.
  • The U.K., Switzerland, Austria, Italy, Portugal, the Netherlands, and Luxembourg closed in the red. The market status for France was changed to a Confirmed Uptrend after it reached new highs.

Won Europe Today

Posted on by Veera Manju

Yesterday, most European markets closed higher, led by the Banking sector. This upward movement in the Banking sector was triggered after the U.S Federal Reserve toned down expectations of further interest rate cuts. France’s CAC and Germany’s DAX were up 0.68% and 0.55%, respectively, on higher volume, while the U.K.’s FTSE 100 rose 0.58%, on lower volume. The Stoxx 600 gained 0.61%, on higher volume.
Sectors that gained the most include Banks, Media, and Financial Services. All countries closed in positive territory except Norway and Luxembourg ‐ both closed slightly below zero. We revised a distribution day for France after it gained 0.68% on higher volume.

Won Global View

Posted on by Veera Manju

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq pulled back off intraday highs to close relatively flat for a second straight session. Distribution remains unchanged at three and four days, respectively, with multiple days set to expire at the end of next week. Support remains the rising 21- and 50-DMA on both indices.