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International Equity Index Daily Hotline 
11 August 2014                                     By Cornelia Dichio, Analyst
Chart of the day: HSCEI reasserts uptrend

 

The Hang Seng China Enterprise index appears on the 'Gainers' list with +1.9% for today's session.  The market seems to have reasserted the advance after correcting the overbought situation that had arisen towards the latter part of July.  A long trade is opened for the upside potential towards the December 2013 peak at 11638.3, with the possibility of the early 2013 pinnacle, at 12354.2, after that.  The stoploss is placed under support from the 50-day moving average, at 10500.

 

Daily Comment:

 

Japan's benchmark Nikkei 225 index was the subject of Friday's Chart of the Day.  The piece ended with a warning of possible slippage towards the 14000 region, unless an upward dynamic occurred beforehand.  Recording a 2.4% gain today, the market has indeed rebounded strongly, finding support at the 200-day moving average; against the background of an oversold RSI momentum indicator.  There is a chance that former support at the shorter-term MA may convert into a barrier.  However, a breach of 14753.8 is needed to offset current scope for a further rally.

 

European bourses are trading in a positive manner so far today.  For instance, the UK's benchmark FTSE 100 index is currently changing hands at 6614.  Support is arriving above the March/April floor near 6500 to reverse the oversold decline.

We book the remaining profit on the short trade held in Italy's S&P MIB index, making 8.11%.  The market's oversold fall encountered intraday resistance at 18885.6 on Friday, near the February floor.  There is room on the chart for a further near-term recovery towards potential resistance along the 20000 mark.

Stops were triggered on longs held in Denmark's KFX and Africa's Industrial 25 indices, incurring 5.33% and 3.6% losses, respectively.  These markets did go on to find intraday support at 692.41 and 57871.

 

 

Gainers / Losers
Top 5 Gains.
SymbolStockClose% Change
CRTXRussian Traded Index1667.49+3.9%
RTSI$Russian Trading System Index $1202.56+2.7%
NKYJapan Nikkei 225 Index15130.5+2.4%
TPXJapan Topix Index1252.51+2.0%
HSCEIHang Seng China Ent Indx11037.9+1.9%
Top 5 Losses.
SymbolStockClose% Change
VIXCBOE Volatility Index (VIX)15.77-5.3%
ASEGreece Athens SE Index1047.21-4.0%
RIGSELatvia OMX Riga Index422.34-3.4%
TELTELECOMS PAN EURO32.74-1.8%
HEXFinland HEX General Index7264.67-1.6%
The International Equity Index Model Portfolio
Date Stock Code Type Open Price Current Price % P&L Stop Comment
23 Apr 2014 Australia S&P ASX200 Index AS51 Long 5517.77 5457.03 -1.10% 5325
11 Aug 2014 Hang Seng China Ent Indx HSCEI Long 11037.9 11037.9 0.00% 10500
  • A long is opened in HSCEI (Chart of the Day).
  • Stoplosses were hit on longs held in Denmark's KFX and Africa's Industrial 25 markets.
  • The remaining profit is booked on short Italy's S&P MIB.

 

Daily Analysis

Symbol Name Comment Close 1 day Support Resistance
SPGLOBS&P Global 1200 IndexOversold s-t fall slows near the May low.1880.74+0.3% 1823.71/1868.081961.12
INDUDJ IndustrialsOversold s-t fall bounces by l-t uptrend support at the 200-day MA; and at the late-Apr/May floor.16553.9+1.1% 16015.3/16312.717151.6
SPXS&P 500 IndexPauses the s-t fall from the all-time high.1931.59+1.2% 1944.69/1904.781991.39
CCMPNASDAQ Comp.Ranging beneath the overbought early-Jul high.4370.9+0.8% 4284.535132.52/4485.93
NDXNASDAQ 100Retests uptrend support at the 50-day MA.3888.09+0.8% 3751.69/3837.164147.19/3997.5
UKXFTSE 100Oversold fall finds intraday support near the Mar/Apr floor.6567.36-0.5% 6492.626950.6/6894.88
SX5EEuro Stoxx 50Trends down from the Jun high to the Mar floor. RSI oversold.3006.83-0.2% 2944.13/2971.473289.82/323.88
CACFrance CAC40 IndexExtends the s-t downtrend from the Jun high towards the Feb low.4147.81-0.0% 4080.64490.72/4415.29
DAXGermany DAX IndexOversold s-t fall finds intraday support at 8903.49. Failed break under the Mar low (bear trap).9009.32-0.3% 8489.62/8903.49?10051
SPMIBItaly S&P MIB IndexTop heavy, but oversold fall finds intraday support near the Feb low.19193.5+0.3% 17748.6/18788.321896.2/21348.1
CRTXRussian Traded IndexPossibly reversing the oversold s-t decline.1667.49+3.9% 1522.732027.07/1978.67
IBEXSpain IBEX 35 IndexOversold fall finds intraday support near the psychological 10000 level.10104.8+0.3% 9654.811249.4/11016.1
OMXSweden OMX IndexRetreat from the June/July ceiling finds intraday support at 1320.99.1331.56-0.2% 1317.921547.87/1410.09
SMISwitzerland SMI IndexOversold s-t fall finds intraday support at 8183.55.8274.65-0.4% 8090.748918.77/8763.98
AS51Australia ASX200 IndexCorrection from overbought slows on the approach to the Apr-Jul floor; near the 200-day MA.5457.03+0.4% 5288.5/5358.95980.8/5644.2?
SHASHRChina Shanghai A IndexReasserts the rally towards the Sept-Dec ceiling. RSI overbought again.2329.3+1.4% 2066.88/2283.062376.6/2366.63
HSIHK Hang Seng IndexPotentially reasserting the advance to resistance at the 2010 highs.24646+1.3% 23126.7/24190.924988.6
SENSEXIndia BSE Sensex IndexAdvance flattens. Probes support at the 50-day MA.25329.1-1.0% 24108/24878.726300.2
NKYJapan Nikkei 225 IndexRebound from oversold. Finds support near the 200-day MA.15130.5+2.4% 14574/14753.816320.2/15759.7
IBOVBrazil Bovespa IndexDips to uptrend support near the 50-day MA55572.9-1.1% 51239.3/52709.459472.5/57098.6/56747
SPTSXCanada TSX CompositeFalls to uptrend support at the 50-day MA.15196.3+0.5% 14937.9/15021.115527.3
VIXCBOE Volatility Index (VIX)Ranging beneath the Mar/Apr ceiling.15.77-5.3% 9.39/10.2818.22


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