Author: Veera Manju

Won Europe Today

Posted on by Veera Manju

Yesterday,

  • European markets continued to trade higher, with most sectors and bourses closing in positive territory. The Stoxx 600 closed 0.77% higher, with Basic Materials leading the charge.
  • The U.K.’s FTSE 100 had a significant upward move of 0.96% while Germany’s DAX gained 0.74%. France’s CAC 40 rose 0.44%. Volume across markets was lower than the previous day.
  • The only country to close in the red was Spain.
  • We upgraded Switzerland to a Confirmed Uptrend, after it reclaimed its prior high. Of the 17 indices we cover, 10 are now in a Confirmed Uptrend while two are in an Uptrend Under Pressure. Five remain in a Rally Attempt.

Won Global View

Posted on by Veera Manju

The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq were able to break above a tight four-day trading range moving closer toward all-time high resistance. Meanwhile, the rotation into value has resulted in SPYV (S&P 500 Value) reaching a 20- month high and the Russell 2000 (0RUS) rallying sharply up and through its 50-DMA. A further push higher will likely result in growth ideas rebounding off longer-term support and new ideas surfacing from longer periods of consolidation.

Won Global View

Posted on by Veera Manju

The U.S. market remains in a Confirmed Uptrend.The S&P 500 and Nasdaq closed relatively flat for a second straight session following upside reversals on both indices. The Nasdaq briefly undercut its 50-DMA before rallying to close back above that level by the close. Distribution remained unchanged at three days on the S&P 500 and five on the Nasdaq, with one day expiring on both next Wednesday.

 

Won Europe Today

Posted on by Veera Manju

Yesterday,

  • European markets closed higher after opening in the red. The Stoxx 600 rose 0.10%, on the back of Banks and Oil & Gas gaining 2.1% each.

  • The U.K.’s FTSE 100 led the gains among major bourses, closing 0.44% higher. Germany’s DAX was up 0.35%, while France’s CAC 40 gained 0.08%. Volume was higher than the earlier day’s session for all three.

  • Only Denmark, Switzerland, and Italy defied the upward movement.

  • We downgraded Denmark to an Uptrend Under Pressure after it breached support at its 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 closed relatively flat yesterday, avoiding distribution. The number of distribution days still stands at three days on the S&P 500 and five on the Nasdaq. The Nasdaq touched its 50-DMA before rallying by session close, while the S&P 500 continues to consolidate last Thursday’s gap up through its 50-DMA.

Won Europe Today

Posted on by Veera Manju

Yesterday,

  • European markets closed lower, with the exception of Germany’s DAX among major indices.

  • The Stoxx 600 closed 0.28% lower, with Autos gaining more than 2% while defensives like Food & Beverage slipped more than 1.5%.

  • Germany’s DAX was up 0.28%. France’s CAC 40 lost 0.27%, recording a distribution day, while the U.K.’s FTSE 100 lost 0.64%.

  • Apart from Germany, markets of Finland, Sweden, Austria, Italy, Spain, Belgium, and Luxembourg closed in positive territory.

Won Global View

Posted on by Veera Manju

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq are consolidating gains after gapping above resistance at the 50-DMA. To remain constructive, we would like to see the 50-DMA serve as support as more high-quality ideas emerge from bases. Both indices are currently less than 2% off all-time highs with five distribution days on the Nasdaq and three on the S&P 500.

Won Europe Today

Posted on by Veera Manju

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

Key points:

European markets: Positive momentum on easing political (Italy and the U.K.) and trade tensions took European markets to a third consecutive weekly gain, led by Cyclicals and Financials. Our European Focus List continues to be a source of outperformance. The list is up 23.7% year-to-date, 850bps above its benchmark EXSA.DE.

Won Global View

Posted on by Veera Manju

The U.S. market is in an Uptrend Under Pressure. The S&P 500 and Nasdaq pulled back off session highs, closed near the lows, and added another distribution day. The distribution day count increased to four on the Nasdaq and three on the S&P 500. Overall, indices continue to consolidate in a range below the 50-DMA (S&P 500: 2,946; Nasdaq: 8,051) but above the 200-DMA (S&P 500: 2,803; Nasdaq: 7,596).

Won Europe Today

Posted on by Veera Manju

Yesterday, most European markets closed in the green. Italian stocks led the gains on hopes of a coalition agreement to form a new government in the country. Auto stocks also surged after Beijing’s pledge to boost car sales. France’s CAC and Germany’s DAX were up 0.67% and 0.62%, respectively, on higher volume. The U.K.’s FTSE 100 closed 0.08% down, on higher volume, lagging its peers, as the pound gained on the back of the opposition party’s pledge to prevent a no-deal Brexit.

  • The Stoxx 600 was up 0.63%, on higher volume.
  • Most sectors gained yesterday. Automobile & Parts, Travel & Leisure, and Software & Computer Services were the biggest gainers.
  • Countries that closed in negative territory include the U.K., Austria, and Portugal.
  • We changed market status of Italy to a Confirmed Uptrend after it had a follow-through day.