The U.S. market is in a Rally Attempt. We will upgrade the market to Confirmed Uptrend should either S&P 500 close above 3,950, or the Nasdaq stage a follow-through day. Support on the S&P 500 is again the rising 10- and 21-DMA (3,873). The Nasdaq faces resistance at its 50-DMA (13,368), with support at ~13,000 before the rising 100-DMA (~12,700). Though the Nasdaq is still trading 6% off highs, multiple other indices are trading at all-time highs including the Dow and the Russell 2000.
Tag: Rally Attempt
European Focus
Markets continued to move higher with the only exception of Monday. The Stoxx 600 closed 0.2% higher on Thursday compared to last Friday’s close.
European Focus
Markets have almost recovered from Monday’s down move, and now it is only 11bps below last Friday’s close. Today, the market looks set to close in the green.
European Focus
On Thursday, the Stoxx 600 closed 1.8% above last Friday’s close, closing in the green every day.
European Focus
We have added a couple of distribution days this week. On Thursday, the Stoxx 600 closed 0.38% below last Friday’s close. Today, the index is slightly up.
European Focus
Markets continued a steady uptick and had gained about 0.62% from last Friday’s close, as of yesterday.
European Focus
The market saw a strong uptick this week, and compared with last Friday’s close, it closed 7.23% up on Thursday.
European Focus
The Stoxx 600 closed in the red in all four sessions this week. On Thursday, the index closed 1.96% below last Friday’s close.
European Focus
On Thursday, the Stoxx 600 ended 2.01% below last Friday’s close. Of the 17 indices that we cover, nine are in a Confirmed Uptrend, four are in an Uptrend Under Pressure, three are in a Rally Attempt, and one in a Downtrend.
European Focus
Except for Wednesday’s slight dip, the Stoxx 600 remained in the green this week. As of Thursday, the Stoxx 600 closed 150bps above last Friday’s close
