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International Equity Index Daily Hotline 
22 June 2015                                     By Cornelia Dichio, Analyst
Chart of the day: Nikkei finds uptrend support...

 

The Japanese benchmark Nikkei 225 index has posted a 1.3% gain for today's session.  That rebound has reversed the correction from the overbought late-May high at 20655.3.  Notably, uptrend support has been encountered at the 50-day Moving Average, near the round 20000 figure.  A sustained breach of that line would be required to damage this pattern.

 

Daily Comment:

 

Vietnam's SE index has recorded a 1.6% gain for today's trading.  After a brief fall from the 'Peak' Key Day Reversal high of 16 June, the market has extended the uptrend past that barrier, at 589.33.  A fall past initial support at 575.88 would be required to delay further gains towards the peak area near 600.  We would point out that sideways support near 570; close to both the long and short-term MAs would have to occur in order to reaffirm that barrier.

The downtrend from the ceiling near 30000 by India's BSE Sensex index has often been choppy.  The latest recovery is now approaching resistance along 28000.  The stoploss on the short trade is at 28100.

Italy's S&P MIB index has found support at 21855; near the 200-day MA.  The bounce from that region has led to valuations re-entering the prior short-term trading band/top.  This action gives rise to 'bear trap' hopes for a further recovery over the near term, possibly towards the upper side of the pattern near 23500-24000.

Ireland's ISEQ Overall index recorded a 1.5% gain on Friday.  The market bounced from the lower side of the range near 6000 towards the upper boundary at 6371.75.  We will consider buying in the event of a sustained breakout for the potential towards the 6500-6600 region; the April/May 2008 ceiling.

 

Gainers / Losers
Top 5 Gains.
SymbolStockClose% Change
VIXCBOE Volatility Index (VIX)13.96+5.8%
VNINDEXVietnam Stock Exchange Index594.08+1.6%
HSCEIHang Seng China Ent Indx13383.7+1.5%
ISEQIreland ISEQ Overall Index6270.9+1.5%
NKYJapan Nikkei 225 Index20428.2+1.3%
Top 5 Losses.
SymbolStockClose% Change
SHASHRChina Shanghai A Index4689.56-6.4%
SHCOMPShanghai Composite Index4478.36-6.4%
SHBSHRChina Shanghai B Index477.87-3.6%
XAUPHLX Gold & Silver Index66.6472-2.5%
HUINYSE Arca Gold Bugs Index156.295-2.2%
The International Equity Index Model Portfolio
International Equity Index Model Portfolio Longs
Date Stock Code Type Open Price Current Price % P&L Target Stop
18 May 2015 S&P 100 Index OEX Long 935 927.63 -0.79% 892.5
18 May 2015 Dow Jones Ind Avg INDU Long 18288.6 18016 -1.49% 17500
18 Jun 2015 NASDAQ Composite CCMP Long 5132.52 5117 -0.30% 4780
18 Jun 2015 Russell 2000 Index RTY Long 1284.68 1284.66 -0.00% 1200
International Equity Index Model Portfolio Shorts
Date Stock Code Type Open Price Current Price % P&L Target Stop
9 Jun 2015 Philippines Manila Comp Index PCOMP Short 7500 7609.14 -1.46% 7800
11 Jun 2015 India BSE Sensex Index SENSEX Short 26371 27316.2 -3.58% 28100
16 Jun 2015 Hang Seng China Ent Indx HSCEI Short 13252.9 13383.7 -0.99% 14600
17 Jun 2015 FTSE 100 UKX Short 6693.8 6710.45 -0.25% 7020
18 Jun 2015 Australia S&P ASX200 Index AS51 Short 5524.89 5610.17 -1.54% 5850
  • We watch to buy Ireland's ISEQ Overall index.
Daily Analysis

Symbol Name Comment Close 1 day Support Resistance
SPGLOBS&P Global 1200 IndexRanging beneath resistance from the all-time May high.1966.15-0.2% 1925.13/1942.282007.62
INDUDJ IndustrialsExtends the m-t range forming beneath last month's all-time high.18016-0.6% 17037.8/17579.318351.4
SPXS&P 500 IndexExtends the m-t band developing beneath last month's all-time high.2109.99-0.5% 2039.69/2067.932134.72
CCMPNASDAQ Comp.Breaks the Apr/early-June ceiling (5119.83). Also trades over the 2000 peak at 5132.52, rallying into new high ground.5117-0.3% 4825.93/4974.61/
NDXNASDAQ 100Firms towards range resistance at the Apr/early-June ceiling.4513.42-0.4% 4333.11/4392.454816.35/4562.33
UKXFTSE 100Potential top, but intraday support is noted at 6625.16.6710.45+0.0% 6298.157122.74/6870.19
SX5EEuro Stoxx 50Holds the s-t downtrend but intraday support is noted at 3374.18 on 18 June.3455.8+0.2% 3321.593691.42/3589.33
CACFrance CAC40 IndexHolds the s-t downtrend. Intrday support arrives at 4712.97; near the 200-day MA.4815.37+0.2% 4571.055283.71/5022.1
DAXGermany DAX IndexHolds the s-t downtrend from the Apr, and all-time, high. However, intraday support is noted at the 200-day MA again.11040.1-0.5% 10552.812079/11452.9
SPMIBItaly S&P MIB IndexFinds support at 21855; near the 200-day MA. Re-enters the prior s-t range/top. Potential 'bull trap' scope.22699.4+1.1% 20231.3/2185524558.5/24081.7
IBEXSpain IBEX 35 IndexTop heavy but finds intraday support at 10654.3.10944.3+0.7% 10136.411884.6/11684.6
OMXSweden OMX IndexFall from the 'Peak' KDR of 29 May finds intraday support at 1538.47.1562.42-0.3% 1421.341669.13/1618.66
SMISwitzerland SMI IndexPotential top, but finds intraday support near the May low.8867.32-0.1% 8300.37/87299548.09/9474.95
AS51Australia ASX200 IndexPauses the fall the year's earlier top. Tests resistance near the 200-day MA.5610.17+0.2% 5267.4/5453.15803
SHASHRChina Shanghai A IndexCorrects from overbought. Dips under uptrend support at the 50-day MA to test the late-May low (4640.42).4689.56-6.4% 4294.16/4640.426429.68/5796.72/5423.25
HSIHK Hang Seng IndexPauses the s-t fall but remains top heavy.27080.9+1.2% 23590/25000?29962.9/28588.5
SENSEXIndia BSE Sensex IndexChoppy downtrend. Recovers towards resistance near 28000.27316.2+0.7% 25910.8/26307.128087.8/27014.4
NKYJapan Nikkei 225 IndexFinds uptrend support at the 50-day MA.20428.2+1.3% 19257.9/19990.520833.2/20655.3
IBOVBrazil Bovespa IndexPullback from overbought yields to ranging by initial support; near the prior base; close to the 200-day MA.53749.4-0.9% 49908.52665.858897.5/54253.8
SPTSXCanada TSX CompositeDips under the Mar floor (14606.2) during Fri. Top heavy.14653.1-0.8% 14392.615237.2/14953
VIXCBOE Volatility Index (VIX)Extends the m-t range.13.96+5.8% 10.28/11.2425.2/17.19


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