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International Equity Index Daily Hotline 
17 August 2015                                     By Cornelia Dichio, Analyst
Chart of the day: Potential top forms for African index

 

The JSE Africa Industrial 25 index has recorded a 1.3% loss for Friday's session.  The market has dipped within the broad range forming beneath the all-time high near 70000.  If support at the lower boundary around 64000 fails, a large top will have formed.  We will consider selling such a development.

 

 

Daily Comment:

 

The Italian S&P MIB index continues to encounter resistance at the sideways area around 24000.  Initial support near 23000 is under scrutiny.  A sustained breach will leave a medium-term top heavy pattern.

Australia's ASX 200 index has extended its short-term fall from resistance in the 5700 region to dip under the June/July floor.  A quick push back over 5400 would be required to delay additional slippage towards the January low near 5300.

Malaysia's KLSE Composite index has registered a 1.4% loss for today's session.  The market's decline has accelerated.  This is a trend-ending feature.  Also, the RSI confirms an oversold state.  Another feature on the chart worth pointing out is the 'thin lower tail' on the last candlestick.  This shows intraday support arriving at the low at 1545.98.  Perhaps the counter move has already begun.

In the US, the S&P 500 has reversed up within its broad trading band.  Finding support at the lower boundary near 2050, the market points towards the upper perimeter; at the all-time high at 2134.72.  However, the pattern may yet turn out to be a large top formation.

 

 

Gainers / Losers
Top 5 Gains.
SymbolStockClose% Change
KFXDenmark KFX Index997.558+0.9%
RTSI$Russian Trading System Index $835.17+0.8%
SHASHRChina Shanghai A Index4184.13+0.7%
SHCOMPShanghai Composite Index3993.67+0.7%
RTYRussell 2000 Index1212.69+0.7%
Top 5 Losses.
SymbolStockClose% Change
VIXCBOE Volatility Index (VIX)12.83-4.9%
VNINDEXVietnam Stock Exchange Index573.15-2.7%
ASEGreece Athens SE Index673.93-1.9%
KLCIMalaysia KLSE Comp Index1574.02-1.4%
INDI25FTSE JSE Africa Industrial 25 Index65517.8-1.3%
The International Equity Index Model Portfolio
  • We watch to sell the African index (Chart of the Day).
Daily Analysis

Symbol Name Comment Close 1 day Support Resistance
SPGLOBS&P Global 1200 IndexProbable top formation1922.8+0.1% 1861.72/1888.22007.62/1969.64
INDUDJ IndustrialsFinds support above the late-2014/early-2015 floor, but top heavy.17477.4+0.4% 17037.817783.6/17629.1
SPXS&P 500 IndexExtends the broad range (top?).2091.54+0.4% 1980.9/2039.692134.72
CCMPNASDAQ Comp.Rallies into short term tops5048.23+0.3% 4825.93/4888.175231.94
NDXNASDAQ 100forms short term tops4530.74+0.3% 4280.95/4333.114816.35/4694.13
UKXFTSE 100Reacts to resistance at 50 and 200-day MAs.6550.74-0.3% 6298.15/6430.366813.41/6764.82
SX5EEuro Stoxx 50top formation testing its 200-day MA3491.03-0.7% 2998.53/3291.33836.28/3714.26
CACFrance CAC40 IndexReacts to resistance in the 5200 region. Potential m-t top.4956.47-0.6% 4076.16/4571.055283.71/5217.8
DAXGermany DAX Indextests its 200-day MA10985.1-0.3% 9382.82/10552.812079/11920.3
SPMIBItaly S&P MIB IndexContinues to find resistance around 2400023248.5-0.5% 20937.3/22809.324558.5/24157.4
IBEXSpain IBEX 35 IndexDevelops medium term top10879.3-0.6% 10136.4/10316.411884.6/11684.6
OMXSweden OMX Indexencounters top formation1586.83-0.5% 1421.34/1507.011720.02/1669.13
SMISwitzerland SMI Indextests short term support at 92009346.56+0.2% 8300.37/8727.959548.09/9525.79
AS51Australia ASX200 IndexHolds the s-t fall towards the Jan floor.5367.66+0.2% 5267.4/5383.75803/5718.9
SHASHRChina Shanghai A IndexProbes potential resistance at the 50-day MA.4184.13+0.7% 3351.05/3535.594521.48/4384.39
HSIHK Hang Seng IndexRetraces the recovery from the oversold and accelerated 8 Jul low.23814.7-0.7% 22529.826470.4/25634.3
SENSEXIndia BSE Sensex Indexunwinds into 200-day MA27878.3-0.7% 26307.1/27209.230024.7/29094.6
NKYJapan Nikkei 225 Indexunwinds into its 50-day MA20620.3+0.5% 1892822750.7/20952.7
IBOVBrazil Bovespa IndexDowntrend towards the Dec-Jan floor.47508.4-1.0% 45852.853417/50894.5
SPTSXCanada TSX Compositeencounters its 50-day MA at 14,622.14277.9+0.3% 13635.5/13892.614995.3/14748
VIXCBOE Volatility Index (VIX)Falls back towards the lows near 12.12.83-4.9% 10.28/11.2425.2/20.05


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