|International Equity Index Daily Hotline
21 July 2015 By Cornelia Dichio, Analyst
The Italian S&P MIB index appears on the 'Gainers' list with +1.1%. Also the move through 24000 has generated a bullish P&F Breakout signal on the automated scanner.
On a near-term basis, the market has extended the rally past the short-term range highs at the April-June ceiling, 24081.7. This action has renewed the advance off the 2012 floor near 12000. This seven-year chart shows that valuations have approached resistance at the late-2009 peak at 24558.5. It is worth bearing in mind that that barrier may still have a depressing effect.
In contrast, Poland's WSE WIG 20 index makes an appearance on the 'Losers' board. Shedding 1.8% on Monday, the market looks to be reasserting the downtrend. A clearance of resistance near 2300, at the 25-day Moving Average, would be needed to improve the outlook.
In the US, we err on the side of caution and book the remaining profit on the long trade held in the S&P 100 making 1.13%. The market did rally to a new all-time high, though some intraday resistance is noted there, at 947.85.
Profitable stops are tightened on the NASDAQ longs, to 5200 for the Composite version and 4655 for the NASDAQ 100. These markets rallied to new highs yesterday.
In contrast, across the border, Canada's TSX Composite index has retraced a good portion on the recent recovery after finding downtrend resistance near the 50-day MA. If this month's earlier low at 14275.5 fails, next important chart support is at the January floor at 13892.6.
Australia's ASX 200 index has continued its rally from support in the 5400 region. Having edged over the late-June high at 5705.8, bulls will be aiming for the late-May high at 5803. Note this is near the lower side of the year's earlier top formation, which stretches up to around 6000.
|VIX||CBOE Volatility Index (VIX)||12.25||+2.5%|
|PCOMP||Philippines Manila Comp Index||7627.96||+1.2%|
|HEX||Finland HEX General Index||8838.04||+1.2%|
|STU5||Italy S&P/MIB Futures (Sep 15)||24039||+1.2%|
|SPMIB||Italy S&P MIB Index||24031.2||+1.1%|
|HUI||NYSE Arca Gold Bugs Index||113.071||-12.0%|
|XAU||PHLX Gold & Silver Index||48.6344||-10.3%|
|WIG20||Poland WSE WIG 20 Index||2244.63||-1.8%|
|Date||Stock||Code||Type||Open Price||Current Price||% P&L||Target||Stop|
|18 Jun 2015||NASDAQ Composite||CCMP||Long||5132.52||5218.86||+1.68%||5200|
|16 Jul 2015||NASDAQ 100||NDX||Long||4562.33||4679.68||+2.57%||4655|
- The remaining profit is booked on the long held in the S&P 100.
- Stops on the above are tightened again.
|SPGLOB||S&P Global 1200 Index||Holds the 'Bear trap' recovery from oversold towards the highs.||1968.87||+0.0%||1861.72/1888.2||2007.62|
|INDU||DJ Industrials||Recovery from the 'Trough' KDR of 7 July slows slightly on the approach to the highs of the m-t band/top; and April's all-time high.||18100.4||+0.1%||17037.8/17465.7||18351.4|
|SPX||S&P 500 Index||Rallies from the Mar floor and 200-day MA to the all-time high.||2128.28||+0.1%||1980.9/2039.69||2134.72|
|CCMP||NASDAQ Comp.||Rallies past the Jun peak (5164.36) to a new all-time high.||5218.86||+0.2%||4825.93/4888.17||/|
|NDX||NASDAQ 100||Advances towards the 2000 peak. RSI high.||4679.68||+0.4%||4280.95/4333.11||4816.35|
|UKX||FTSE 100||Holds the rally from oversold towards the late-June high within the prior top.||6788.69||+0.2%||6298.15||6873.43|
|SX5E||Euro Stoxx 50||S-t rally shows a minor loss of momentum beneath the Apr highs.||3686.58||+0.4%||2998.53/3291.3||3836.28|
|CAC||France CAC40 Index||S-t rally finds intraday resistance near the May high.||5142.49||+0.4%||4076.16/4571.05||5283.71/5193.77|
|DAX||Germany DAX Index||S-t rally slows near the May high (11920.3).||11735.7||+0.5%||9382.82/10552.8||12079/11920.3|
|SPMIB||Italy S&P MIB Index||Extends the s-t rally past the highs of the prior range (24081.7) during Mon.||24031.2||+1.1%||20231.3/20937.3||24558.5|
|IBEX||Spain IBEX 35 Index||Rallies from oversold towards the Apr/May highs||11556.1||+0.7%||10136.4/10316.4||11884.6/11684.6|
|OMX||Sweden OMX Index||Extends the s-t rally to the late-May high (1669.13); and prior top.||1653.44||+1.1%||1421.34/1507.01||1720.02/1669.13|
|SMI||Switzerland SMI Index||Breaks out of the m-t trading band (9474.95). Rallies towards the 2007 peak. RSI high.||9482.62||+0.4%||8300.37/8727.95||9548.09|
|AS51||Australia ASX200 Index||Edges over late-June resistance (5705.8). Points to the late-May high (5803), which is near the lower side of the prior top.||5706.72||+0.3%||5267.4/5383.7||5803|
|SHASHR||China Shanghai A Index||Potentially reasserting the recovery from oversold.||4209.51||+0.6%||3351.05/3535.59||4944.61/4521.48|
|HSI||HK Hang Seng Index||Restarts the recovery from the oversold and accelerated 8 Jul low.||25536.4||+0.5%||22529.8||28588.5/27470.5/26470.4|
|SENSEX||India BSE Sensex Index||Holds the s-t uptrend towards the Apr high.||28420.1||-0.2%||27209.2/27530.9||30024.7/29094.6|
|NKY||Japan Nikkei 225 Index||Rallies from the Apr low (18928) back to the June high.||20842||+0.9%||18928||22750.7/20952.7|
|IBOV||Brazil Bovespa Index||Reasserts the fall from the May high; finding resistance near the 50 and 200-day MAs.||51600.1||-1.4%||49908/51129.8||58897.5/54360.8|
|SPTSX||Canada TSX Composite||Retraces the recovery after finding downtrend resistance near the 50-day MA.||14425.6||-1.5%||13892.6/14275.5||14995.3/14748|
|VIX||CBOE Volatility Index (VIX)||Eases back into the m-t range. 'Bull trap' to test the lower boundary near 12.||12.25||+2.5%||10.28/11.24||25.2/20.05|
Copyright 2015 by Stockcube Research Ltd.