|International Equity Index Daily Hotline
11 August 2014 By Cornelia Dichio, Analyst
The Hang Seng China Enterprise index appears on the 'Gainers' list with +1.9% for today's session. The market seems to have reasserted the advance after correcting the overbought situation that had arisen towards the latter part of July. A long trade is opened for the upside potential towards the December 2013 peak at 11638.3, with the possibility of the early 2013 pinnacle, at 12354.2, after that. The stoploss is placed under support from the 50-day moving average, at 10500.
Japan's benchmark Nikkei 225 index was the subject of Friday's Chart of the Day. The piece ended with a warning of possible slippage towards the 14000 region, unless an upward dynamic occurred beforehand. Recording a 2.4% gain today, the market has indeed rebounded strongly, finding support at the 200-day moving average; against the background of an oversold RSI momentum indicator. There is a chance that former support at the shorter-term MA may convert into a barrier. However, a breach of 14753.8 is needed to offset current scope for a further rally.
European bourses are trading in a positive manner so far today. For instance, the UK's benchmark FTSE 100 index is currently changing hands at 6614. Support is arriving above the March/April floor near 6500 to reverse the oversold decline.
We book the remaining profit on the short trade held in Italy's S&P MIB index, making 8.11%. The market's oversold fall encountered intraday resistance at 18885.6 on Friday, near the February floor. There is room on the chart for a further near-term recovery towards potential resistance along the 20000 mark.
Stops were triggered on longs held in Denmark's KFX and Africa's Industrial 25 indices, incurring 5.33% and 3.6% losses, respectively. These markets did go on to find intraday support at 692.41 and 57871.
|CRTX||Russian Traded Index||1667.49||+3.9%|
|RTSI$||Russian Trading System Index $||1202.56||+2.7%|
|NKY||Japan Nikkei 225 Index||15130.5||+2.4%|
|TPX||Japan Topix Index||1252.51||+2.0%|
|HSCEI||Hang Seng China Ent Indx||11037.9||+1.9%|
|VIX||CBOE Volatility Index (VIX)||15.77||-5.3%|
|ASE||Greece Athens SE Index||1047.21||-4.0%|
|RIGSE||Latvia OMX Riga Index||422.34||-3.4%|
|TEL||TELECOMS PAN EURO||32.74||-1.8%|
|HEX||Finland HEX General Index||7264.67||-1.6%|
|Date||Stock||Code||Type||Open Price||Current Price||% P&L||Stop||Comment|
|23 Apr 2014||Australia S&P ASX200 Index||AS51||Long||5517.77||5457.03||-1.10%||5325|
|11 Aug 2014||Hang Seng China Ent Indx||HSCEI||Long||11037.9||11037.9||0.00%||10500|
- A long is opened in HSCEI (Chart of the Day).
- Stoplosses were hit on longs held in Denmark's KFX and Africa's Industrial 25 markets.
- The remaining profit is booked on short Italy's S&P MIB.
|SPGLOB||S&P Global 1200 Index||Oversold s-t fall slows near the May low.||1880.74||+0.3%||1823.71/1868.08||1961.12|
|INDU||DJ Industrials||Oversold s-t fall bounces by l-t uptrend support at the 200-day MA; and at the late-Apr/May floor.||16553.9||+1.1%||16015.3/16312.7||17151.6|
|SPX||S&P 500 Index||Pauses the s-t fall from the all-time high.||1931.59||+1.2%||1944.69/1904.78||1991.39|
|CCMP||NASDAQ Comp.||Ranging beneath the overbought early-Jul high.||4370.9||+0.8%||4284.53||5132.52/4485.93|
|NDX||NASDAQ 100||Retests uptrend support at the 50-day MA.||3888.09||+0.8%||3751.69/3837.16||4147.19/3997.5|
|UKX||FTSE 100||Oversold fall finds intraday support near the Mar/Apr floor.||6567.36||-0.5%||6492.62||6950.6/6894.88|
|SX5E||Euro Stoxx 50||Trends down from the Jun high to the Mar floor. RSI oversold.||3006.83||-0.2%||2944.13/2971.47||3289.82/323.88|
|CAC||France CAC40 Index||Extends the s-t downtrend from the Jun high towards the Feb low.||4147.81||-0.0%||4080.6||4490.72/4415.29|
|DAX||Germany DAX Index||Oversold s-t fall finds intraday support at 8903.49. Failed break under the Mar low (bear trap).||9009.32||-0.3%||8489.62/8903.49?||10051|
|SPMIB||Italy S&P MIB Index||Top heavy, but oversold fall finds intraday support near the Feb low.||19193.5||+0.3%||17748.6/18788.3||21896.2/21348.1|
|CRTX||Russian Traded Index||Possibly reversing the oversold s-t decline.||1667.49||+3.9%||1522.73||2027.07/1978.67|
|IBEX||Spain IBEX 35 Index||Oversold fall finds intraday support near the psychological 10000 level.||10104.8||+0.3%||9654.8||11249.4/11016.1|
|OMX||Sweden OMX Index||Retreat from the June/July ceiling finds intraday support at 1320.99.||1331.56||-0.2%||1317.92||1547.87/1410.09|
|SMI||Switzerland SMI Index||Oversold s-t fall finds intraday support at 8183.55.||8274.65||-0.4%||8090.74||8918.77/8763.98|
|AS51||Australia ASX200 Index||Correction from overbought slows on the approach to the Apr-Jul floor; near the 200-day MA.||5457.03||+0.4%||5288.5/5358.9||5980.8/5644.2?|
|SHASHR||China Shanghai A Index||Reasserts the rally towards the Sept-Dec ceiling. RSI overbought again.||2329.3||+1.4%||2066.88/2283.06||2376.6/2366.63|
|HSI||HK Hang Seng Index||Potentially reasserting the advance to resistance at the 2010 highs.||24646||+1.3%||23126.7/24190.9||24988.6|
|SENSEX||India BSE Sensex Index||Advance flattens. Probes support at the 50-day MA.||25329.1||-1.0%||24108/24878.7||26300.2|
|NKY||Japan Nikkei 225 Index||Rebound from oversold. Finds support near the 200-day MA.||15130.5||+2.4%||14574/14753.8||16320.2/15759.7|
|IBOV||Brazil Bovespa Index||Dips to uptrend support near the 50-day MA||55572.9||-1.1%||51239.3/52709.4||59472.5/57098.6/56747|
|SPTSX||Canada TSX Composite||Falls to uptrend support at the 50-day MA.||15196.3||+0.5%||14937.9/15021.1||15527.3|
|VIX||CBOE Volatility Index (VIX)||Ranging beneath the Mar/Apr ceiling.||15.77||-5.3%||9.39/10.28||18.22|
Copyright 2014 by Stockcube Research Ltd.