Mar 26, 2021 – Week In Review UK
Author: Vinaya Kumar
Mar 26, 2021 – Week In Review Large Cap
Mar 26, 2021 – Week In Review Large Cap
Mar 26, 2021 – Week In Review Mid Cap
Mar 26, 2021 – Week In Review Mid Cap
Mar 26, 2021 – Week In Review Micro Cap
Mar 26, 2021 – Week In Review Micro Cap
Mar 26, 2021 – Week In Review Small Cap
Mar 26, 2021 – Week In Review Small Cap
US Focus Long
The U.S. market is in an Uptrend Under Pressure. U.S. market was downgraded last week, after a clustering of distribution days and a breach below key support levels. All sectors expect Technology are trading below their 50-DMA as volatility remains elevated. Look for the Nasdaq and S&P500 to hold support at the 50-DMA and 100 DMA, respectively, to remain optimistic. We advise reducing exposure to any stocks that has broken below support from sound bases or key moving averages.
European Focus Long
As of Thursday this week, the Stoxx 600 was down 1.65% on a weekly basis. With no notable positive moves on high volume, the index has remained in a Rally Attempt since February 14, trading 1% from its 52-week low but more than 3% below its 50- and 200-DMA as of Thursday’s close. The bounce back in mid-February, post the low on February 9, has rapidly lost steam as volume has not been able to support this move. Another cause for this concern is the lack of new leadership, reflected by small number of stocks breaking out of constructive patterns.
Global Focus Developed Long
Australia’s ASX All-Ordinaries Index fell 1.26% this week. The index is trading 1.62% above its 40-WMA and is currently in an Uptrend Under Pressure.
Global Focus Emerging Long
Mainland China’s markets closed mixed this week. The Shenzhen ended the week with a 2.7% gain, compared with a 1.1% decline for the Shanghai. The markets continue to be in a Rally. The Shanghai is trading 1.5% below its 200-DMA (~3,298), while the Shenzhen closed 4.5% below its 200-DMA (~1,906). The 100- DMA (~1,922) continues to act as a strong resistance level for the Shenzhen.
