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International Equity Index Daily Hotline 
25 September 2015                                     By Cornelia Dichio, Analyst
Chart of the day: 'Bear trap' by FTSE


At the time of writing, the UK's benchmark FTSE 100 index is trading at 6113.16, up 2.54%.  This means that the market has re-entered the prior short-term range, giving rise to hopes for a further near-term 'bear trap' rally towards the upper boundary near 6300.  Note that that barrier is reinforced by the 50-day Moving Average.



Daily Comment:


The German DAX index is currently finding firm support at the August low (9338.2).  Trading at 9695.32 a short while ago, the market is up 2.84% and has almost clawed back all yesterday's losses.  Nonetheless, DAX would have to clear resistance near 10500 to confirm basing.

One notes that the Focus List Breadth Indicator has fallen again.  Now plotted under 10% to confirm the oversold condition for its constituents.


This would include the Swiss SMI, which has approached support at last month's low; and the RSI indicator is near oversold levels.  We err on the side of caution and book the profit, 4.3%, on the short trade.

Sweden's OMX and Spain's IBEX 35 indices have broken support levels, including last month's lows.  However, we delay opening new shorts at this point in view of the oversold indicators.

The US DJ Industrial Average has produced a bearish P&F Breakout signal on Thursday's move through 16200 on the automated scanner.  However, the 'thin lower tail' on the last candle indicates that intraday support arrived at 16016.4; near initial support from the 1 September reaction low (15980).  Of course, a breach of resistance near the shorter-term MA, around 17000, would be needed to show significant pattern improvement.

Gainers / Losers
Top 5 Gains.
SymbolStockClose% Change
HUINYSE Arca Gold Bugs Index112.916+7.8%
XAUPHLX Gold & Silver Index47.8896+7.4%
VIXCBOE Volatility Index (VIX)23.47+6.1%
Top 5 Losses.
SymbolStockClose% Change
TA-100Israel Tel Aviv 100 Index1332.93-3.5%
ISEQIreland ISEQ Overall Index6209.03-2.8%
OMXSweden OMX Index1381.87-2.8%
OILOIL & GAS PAN EURO29.055-2.7%
The International Equity Index Model Portfolio
Date Stock Code Type Open Price Current Price % P&L Target Stop
16 Sep 2015 Russian Trading System Index $ RTSI$ Long 837.39 769.38 -8.12% 700
  • Profits are booked on short SMI.


Daily Analysis

Symbol Name Comment Close 1 day Support Resistance
SPGLOBS&P Global 1200 IndexRetraces the bounce from oversold. Retests the Feb 2014 low (1741.88).1748.12-0.7% 1694.1/1741.881969.64/1826.6
INDUDJ IndustrialsFall from the 50-day MA; and old support from the Feb low, finds intraday support at 16016.4.16201.3-0.5% 15370.3/1598017629.1/16933.4
SPXS&P 500 IndexFall from the 50-day MA finds intraday support at 1908.92.1932.24-0.3% 1867.01/1903.072134.72/2020.86
CCMPNASDAQ Comp.Retraces the rally from the Aug low. Intraday support is noted at 4670.12.4734.48-0.4% 4292.14/4614.915231.94/4960.87
NDXNASDAQ 100Retraces the rally from the Aug low. Intraday support is noted at 4198.11.4261.1-0.3% 3787.23/4121.834694.13/4450.66
UKXFTSE 100Holds the decline towards the Aug low.5961.49-1.2% 5605.59/5768.226764.82/6284.17
SX5EEuro Stoxx 50Retraces to the Aug low (2973.16).3019.34-2.0% 2921.73/2973.163714.26/3326.86
CACFrance CAC40 IndexFalls from the s-t range towards the Aug low.4347.24-1.9% 4076.16/4230.495217.8/4733.05
DAXGermany DAX IndexFalls from the s-t range. Tests the Aug low. RSI oversold.9427.64-1.9% 9219.05/9338.211920.3/10512.6
SPMIBItaly S&P MIB IndexFalls towards the Aug low (20158.2).20581.8-2.3% 17991.8/20158.224157.4/22448.8
IBEXSpain IBEX 35 IndexExtends the fall past the Oct 2014 floor (9370.5) to dip under the Nov 2013 low (9232.1) during Thur. RSI low..9291.4-1.9% 9036.911684.6/10357.3
OMXSweden OMX IndexBreaks the Aug low (1405.01); and Dec 2014 floor (1386.61). RSI low.1381.87-2.8% 1246.561669.13/1524.23
SMISwitzerland SMI IndexFalls towards the Aug low. RSI low.8278.07-2.0% 7852.83/8155.19537.9/8963.86
AS51Australia ASX200 IndexFalls to the lows of the s-t range at the Aug low, which hold.5042.11-0.6% 4632.3/4928.35718.9/5305
SHASHRChina Shanghai A IndexOersold s-t fall from resistance at the 50-day MA near 3000 yields to narrow ranging.3239.04-1.6% 2940.91/2986.39?4384.39/4197.46
HSIHK Hang Seng IndexPauses at late-Aug resistance. Questions base theory.21186.3+0.4% 19426.4/20524.925634.3/22424.4
SENSEXIndia BSE Sensex IndexExtends the s-t range forming near mid-2014 support.25863.5+0.2% 24163.629094.6/26687.3
NKYJapan Nikkei 225 IndexExtends the s-t range forming beneath the m-t range/top; the sideways trading along 19000; and the 200-day MA.17880.5+1.8% 16592.6/17415.620952.7/19192.8
IBOVBrazil Bovespa IndexS-t decline finds intraday support at 44182.745292-0.1% 42749.2/45278.353417/50894.5/49395.6
SPTSXCanada TSX CompositeRecovery from the oversold and accelerated Aug low yields to ranging beneath the 50-day MA.13338.7-0.3% 12678/12705.214748/13888.2
VIXCBOE Volatility Index (VIX)Pullback from the overbought Aug high finds intraday support at 11.2453.29

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