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International Equity Index Daily Hotline 
18 April 2016                                     By Cornelia Dichio, Analyst
Chart of the day: Nikkei retreats from Mar resistance

 

Japanese stock market indices dominate the 'Losers' board, with the benchmark Nikkei 225 heading the list at -3.4%.  The market has baulked at prior resistance from the March ceiling at 17291.3.  A push over that barrier would be required to remove the danger of a further retracement of the April recovery from the oversold low at 15471.8, which was plotted on the 8th of the month. 

 

 

Daily Comment:

 

China's Shanghai A index has recorded a 1.4% loss for today's session.  The short-term uptrend has slowed.  However, a sustained fall beneath the late-March low at 3040.15 would be required to indicate a test of the year's earlier base area.

Posting a 1.6% gain for Friday's session, Brazil's Bovespa index has reasserted the advance towards the 2015 highs near 54360 and 57605.  We continue to hold a long position in the market and tighten the stop to 52000.  This action locks in a profit.

In Europe, the Greek Athens SE index registered a 4.9% gain.  The chart shows the market continuing to develop support near the 50-day MA.  If the March ceiling at 584.95 is successfully challenged, the late-December high at 631.35 will become the next target.

The JSE African Industrial 25 index gained 0.9% before the weekend.  The market reasserts the short-term rally towards last month's high at 73121.6.  An eventual break over that barrier will have bulls aiming for the November, and all-time, high at 74089.8.

 

 

Gainers / Losers
Top 5 Gains.
SymbolStockClose% Change
ASEGreece Athens SE Index574.73+4.9%
XAUPHLX Gold & Silver Index77.9156+2.6%
HUINYSE Arca Gold Bugs Index198.154+2.5%
IBOVBrazil Bovespa Index53227.7+1.6%
INDI25FTSE JSE Africa Industrial 25 Index71467.9+0.9%
Top 5 Losses.
SymbolStockClose% Change
NKYJapan Nikkei 225 Index16276-3.4%
NEYJapan Nikkei 300 Index265.88-3.2%
TPXJapan Topix Index1320.15-3.0%
DBOOil7.93-2.1%
SHASHRChina Shanghai A Index3174.76-1.4%
The International Equity Index Model Portfolio
Date Stock Code Type Open Price Current Price % P&L Target Stop
17 Mar 2016 Brazil Bovespa Index IBOV Long 50913.8 53227.7 +4.54% 52000
12 Apr 2016 Russian Trading System Index $ RTSI$ Long 900 905.1 +0.57% 815
12 Apr 2016 FTSE 100 UKX Long 6200 6343.75 +2.32% 6100
13 Apr 2016 India BSE Sensex Index SENSEX Long 25479.6 25626.8 +0.58% 24000
  • The stop is raised on long Bovespa.

 

Daily Analysis

Symbol Name Comment Close 1 day Support Resistance
SPGLOBS&P Global 1200 IndexHolds the rally within the mid-Oct/early-Jan trading band.1851.8-0.0% 1696.87/1793.341900.53
INDUDJ IndustrialsHolds the s-t rally by the highs (17977.9) of the late-Oct/early-Jan trading band. RSI high.17897.5-0.2% 16821.9/1739918351.4/17977.9
SPXS&P 500 IndexHolds teh rally within the mid-Oct/early-Jan range.2080.73-0.1% 1969.25/2022.492116.48
CCMPNASDAQ Comp.Maintains the rally within the late-Oct/early-Jan trading.4938.22-0.2% 4734.77/4808.915176.77
NDXNASDAQ 100Holds the s-t rally within the late-Oct/Dec trading band.4543.16-0.3% 4374.74/4435.054739.75
UKXFTSE 100Advance slows on the approach to the Oct ceiling (6487.89).6343.75-0.3% 5845.55/6036.76764.82/6487.89
SX5EEuro Stoxx 50Rallies back up to the Mar high (3128.71).3054.34-0.2% 2801.43/2860.213345.2/3128.71
CACFrance CAC40 IndexS-t rally approaches resistance at the Mar high (4580.97); near the 200-day MA.4495.17-0.4% 4117.49/4229.124748.76/4580.97
DAXGermany DAX IndexTests the highs of the s-t range; near the psychological 100 level; close to the 200-day MA.10051.6-0.4% 9125.19/9484.7510860.1/10164.1
SPMIBItaly S&P MIB IndexRallies from the late-Feb low (16587.7) towards the late-Jan/Mar ceiling (19305.3).18257.4-0.4% 15773/16587.721730.2/19305.3
IBEXSpain IBEX 35 IndexS-t rally towards the Mar high (9217.3).8850.9-0.1% 7968.1/8256.19724.9/9217.3
OMXSweden OMX IndexS-t rally to the mid-Mar high (1431.64); near the 200-day MA, slows.1381.33-0.2% 1247.06/1323.551461.49/1431.64
SMISwitzerland SMI IndexS-t rally tests the Mar high (8095.43). Potential base.8014.6-0.1% 7247.25/7425.05/7607.748487.61/8095.43
AS51Australia ASX200 IndexRallies towards the Mar ceiling (5214). Probes the 200-day MA.5137.06-0.4% 4706.7/4838.35384.8/5214
SHASHRChina Shanghai A IndexThe s-t uptrend slows.3174.76-1.4% 2901.35/3040.153519.73
HSIHK Hang Seng IndexOverbought rally slows near the 200-day MA.21161.5-0.7% 18867.7/19818.422217.5/21511.1?
SENSEXIndia BSE Sensex IndexRallies from the 50-day MA. Renews the advance towards the Dec ceiling.25626.80.00% 22494.6/24354.526256.4
NKYJapan Nikkei 225 IndexRecovery baulks at Mar resistance.16276-3.4% 14865.8/15471.817905.4/17291.3
IBOVBrazil Bovespa IndexReasserts the advance towards the 2015 highs.53227.7+1.6% 46520.8/47873.757605.9/54360.8
SPTSXCanada TSX CompositeApril rally from the 50-day MA slows slightly.13637.2-0.2% 11985.7/12506.114053.2
VIXCBOE Volatility Index (VIX)Reasserts the s-t fall towards the Oct floor.13.62-0.7% 12.833.82/32.09


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